EURUSD's potential short-term resistance


EURUSD

The above chart shows hourly price action. Key resistance is potentially at the confluence of factors including the R2 pivot level, price congestion resistance (green rectangle) and the 61.8% Fibonacci retracement area. The stochastic is also moving from seller friendly levels (green ellipse). A pullback in EURUSD may provide a “sell the rally in a downtrend” opportunity.

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