EUR/USD Reversed Off Resistance, Prepare For Further Drop

EUR/USD reversed off its resistance at 1.1748 (38.2% & 76.4% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.1593 (38.2% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) reversed off its resistance at 96% where a corresponding drop is expected.

EUR/USD reversed off its resistance where we expect to see a further drop.

Sell below 1.1748. Stop loss at 1.1836. Take profit at 1.1593.

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