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EURUSD testing its resistance, potential to drop further!

Por ICmarkets
Corretora
EURUSD testing its resistance at 1.2264 (horizontal overlap resistance, breakout level) where it could potentially fall to its 1st support at 1.2198 (100% Fibonacci extension, 61.8% Fibonacci extension). If it breaks this support, it could fall to its next support at 1.2160 (horizontal swing low support). We have also identified 2 other resistances at 1.2292 and 1.2354 (horizontal overlap resistance)

RSI (89, 5, 3) show a descending channel which contributes to our bearish bias.
Bitcoin (Cryptocurrency)Chart PatternsEUREURUSDeurusdlongeurusdshortForexforexsignalsHarmonic PatternsTrend AnalysisUSD
ICmarkets
Corretora
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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