EURUSD Testing Resistance, Prepare For Reversal
Sell below 1.1781.
Stop loss at 1.1937.
Take profit at 1.1607.
Reason for the trading strategy (technically):
EURUSD is testing its resistance at 1.1781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.1607 (38.2% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding drop is expected.
Stop loss at 1.1937.
Take profit at 1.1607.
Reason for the trading strategy (technically):
EURUSD is testing its resistance at 1.1781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.1607 (38.2% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding drop is expected.
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