EURUSD heads into resistance

Russell Shor, CFTe, MFTA FXCM

The EURUSD is running into resistance. The resistance is characterised by the R1 pivot level, a previous price high (red rectangle), and a 76,4% Fibonacci retracement level. Moreover, this resistance zone is accompanied by an overbought stochastic (green ellipse).

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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