EURUSD H4: Bearish outlook seen, further downside below 1.0200
On the H4 time frame, prices are facing bearish pressure from the resistance zone at 1.020, in line with the Fibonacci confluence levels which presents an opportunity to play the drop to the next support target at 1.000. The 1.000 support zone also coincides with the 100% Fibonacci extension and 61.8% Fibonacci retracement as well as the graphical support-turned-resistance zone. Stochastic is approaching resistance at 95.28 as well, where we could see a reversal, in line with prices. #OPINIONLEADER#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.