Daily Trade Ideas:     18/02/19 12:45 AEST

EURUSD approaching resistance, potential drop!

EURUSD is approaching our first resistance at 1.1324 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.1286 (50% Fibonacci retracement).

Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

https://www.tradingview.com/chart/EURUSD/tTmqMZ4x-EURUSD-approaching-resistance-potential-drop/

AUDUSD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7201 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7131 (horizontal pullback support, 50% Fibonacci retracement).

Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

https://www.tradingview.com/chart/AUDUSD/IXhbum89-AUDUSD-approaching-resistance-potential-drop/

easyMarkets - Dealer Insights


Anthony
Darvall

Tony has been a FX analyst for 10 years in the Sydney EasyMarkets Dealing Room, His ability to clearly communicate advanced forex Trade Ideas to retail clients and financial media is built on strong understanding of what factors are driving the markets. Key experience in Australian Dollar and Japanese...
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