FX.co ★ EUR/USD reversing nicely, remain bearish

The price has started to reverse nicely from our selling area. We remain bearish below major resistance at 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area, bearish divergence) for a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).

Stochastic (21,3,1) is dropping nicely with good downside potential. Bearish divergence vs price signals that a reversal is impending.

Sell below 1.1666. Stop loss is at 1.1738. Take profit is at 1.1572.