EURUSD testing major resistance, remain bearish
Sell below 1.1945. Stop loss at 1.1989. Take profit at 1.1825.
Reason for the trading strategy (technically):
Price continues to test major resistance at 1.1945 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to push price down to at least 1.1825 support (Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a drop from.
Reason for the trading strategy (technically):
Price continues to test major resistance at 1.1945 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to push price down to at least 1.1825 support (Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a drop from.
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