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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 approaching support, prepare for a bounce

EUR/USD is approaching its support at 1.1306 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.1397 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 1.5% where a corresponding bounce could occur.

EUR/USD is approaching its support where we expect to see a bounce.

Buy above 1.1306. Set stop loss at 1.1234 and take profit at 1.1397.

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