EURUSD Approaching Support, Prepare For A Bounce!
Buy above 1.1621. Stop loss at 1.1578. Take profit at 1.1696.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1621 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.1696 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching support at 2.7% where a corresponding bounce could occur.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1621 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.1696 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching support at 2.7% where a corresponding bounce could occur.