EUR/USD approaching resistance within a bearish channel, potential for a big drop!

Entry : 1.1187

Why it’s good : Horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.1225

Why it’s good : horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension

Take Profit : 1.1136

Why it’s good : 78.6% Fibonacci retracement, horizontal swing low support

The material has been provided by InstaForex Company – www.instaforex.com