Sell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623.
Reason for the trading strategy (technically):
We remain bearish with the break of our long term ascending support-turned-resistance line. The goal is to be bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support).
RSI (34) is seeing descending resistance
Reason for the trading strategy (technically):
We remain bearish with the break of our long term ascending support-turned-resistance line. The goal is to be bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support).
RSI (34) is seeing descending resistance
