EURUSD Approaching Support, Prepare For A Bounce!
Buy above 1.1635.
Stop loss 1.1567.
Take profit at 1.1745.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1635 (61.8% Fibonacci extension, 61.8% Fibonacci retracement x2, horizontal swing low support) where it could rise to its resistance at 1.1745 (76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2.7% where a corresponding bounce could occur.
Stop loss 1.1567.
Take profit at 1.1745.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1635 (61.8% Fibonacci extension, 61.8% Fibonacci retracement x2, horizontal swing low support) where it could rise to its resistance at 1.1745 (76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 2.7% where a corresponding bounce could occur.