EURUSD Reversed Off Resistance, Prepare For Further Drop

EURUSD reversed off its resistance at 1.1341 (100% Fibonacci extension ,38.2% Fibonacci retracement , horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 1.1259(76.4% Fibonacci retracement, horizontal swing low support, 100% Fibonacci extension).

Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.

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