(short term view) EURUSD has bounced nicely from its long term ascending line after testing it and is approaching its 1st resistance at 1.2363 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance). If price breaks past this level, potential rise in price to it’s 2nd resistance at 1.2434 (61.8% Fibonacci extension , 61.8% Fibonacci retracement ). We have also identified another support at 1.2236 (100% Fibonacci extension , 50% Fibonacci retracement ).
Stochastic (89, 5, 3) shows room for it to have a corresponding rise to its major resistance at 99.8%.
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