FX.co ★ EUR/USD prepare to sell on break of major support

We prepare to sell on the break of the 1.0859 support (Fibonacci retracement, Elliott wave theory). Upon the break of that level, we will have our stop loss at 1.0913 (Fibonacci retracement) and our profit target at 1.0731 (Fibonacci retracement, price gap, Elliott wave theory).

Stochastic (55,5,3) is seeing resistance at 98% and also sees bearish divergence vs the price signalling that a reversal is impending.

Sell below 1.0859. Stop loss at 1.0913. Take profit at 1.0731.