empty
 
 
28.07.2017 04:23 AM
EUR/USD dropping perfectly towards profit target, remain bearish for a further drop

Price dropped perfectly from our selling area yesterday. We remain bearish looking to sell below 1.1715 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 1.1617 support (Fibonacci extension, horizontal swing low support). It is important to take note of the ascending support line that is serving as intermediate support to price.

Stochastic (34,5,3) is seeing a good downside potential for price to make a further drop.

Sell below 1.1715. Stop loss at 1.1750. Take profit at 1.1617.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback