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30.08.201811:09 Forex Analysis & Reviews: EUR/USD Approaching Resistance, Prepare For A Reversal

Long-term review

EUR/USD is approaching its resistance at 1.1749 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1.1529 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

EUR/USD is approaching its resistance where we expect to see a reversal.

Sell below 1.1749. Stop loss 1.1857. Take profit at 1.1529.

Exchange Rates 30.08.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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