EURUSD breaking out nicely, good idea to wait for strength.
EURUSD has started to drop strongly after breaking through our Ichimoku cloud support and also reacting nicely off 1st resistance at 1.1822 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). We need to look for bearish opportunities on strength as with all this bearish momentum, price might drop further to major support at 1.1720 (major swing low support, Fibonacci extension).
RSI (55) has good downside potential for a further drop.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) has good downside potential for a further drop.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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