EUR/USD continues to rise strongly and is approaching major resistance, and remain bearish

We remain bearish with prices to test two major levels of Fibonacci retracement to 50% and 61.8% where we expect a reaction. We adjust our stop loss to 1.1948 just above the gap to give this trade a little more breathing space. The goal is to continue to sell below 1.1878 resistance (Fibonacci retracement, horizontal overlap of the resistance, the bearish divergence) a strong reaction off of this level to push prices down to at least 1.1752 support (Fibonacci retracement, horizontal overlap support)

Stochastic (34,3,1) is to see the major resistance to 95%, with the bearish divergence vs. the price of signaling that a reversal is imminent.

Sell below 1.1878. Stop loss is at 1.1948. Take profit is 1.1529.

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