FX.co ★ EUR/USD bounced up perfectly to our profit target, prepare to sell on major resistance

Price has bounced up strongly as expected. We now prepare to sell below major resistance at 1.1966 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 1.1869 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,3,1) is seeing major resistance below 92% and we expect a drop from this level.

Sell below 1.1966. Stop loss at 1.2001. Take profit at 1.1869.