EURAUD approaching resistance, potential drop!
Price is approaching our first resistance at 1.5777 (horizontal overlap resistance, 50% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching our resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching our resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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