FX.co ★ EURUSD is approaching support, potential bounce

Price is approaching our first support, in line with our horizontal swing low support and 61.8% fibonacci extension where we could see a bounce above this level to our first resistance target.

Trading Recommendation

Entry: 1.20562

Reason for Entry:

horizontal swing low support and 61.8% fibonacci extension

Take Profit: 1.21183

Reason for Take Profit:

Horizontal swing high resistance, 50% fibonacci retracement, 100% Fibonacci extension

Stop Loss: 1.20340

Reason for Stop Loss:

78.6% fibonacci extension