EUR/USD Approaching Resistance, Prepare For Reversal

The EUR/USD pair is approaching its resistance at 1.1606 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1.1493 (38.2% Fibonacci retracement, horizontal pullback support).

Stochastic (55, 5, 3) is nearing its resistance at 96% where a corresponding reversal is anticipated.

EUR/USD is approaching its resistance where we expect to see a reversal.

Sell below 1.1606. Stop loss at 1.1681. Take profit at 1.1493.


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