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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/USD profit target reached once again, prepare to buy

The price has dropped strongly towards our profit target as expected. We prepare to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support) for a bounce up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is approaching major support at 1.6% where a corresponding bounce is expected.

Buy above 1.1712. Stop loss is at 1.1633. Take profit is at 1.1811.

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The material has been provided by InstaForex Company - www.instaforex.com