EURUSD Approaching Its Resistance, Prepare For Reversal!
Sell entry 1.1743.
Stop loss 1.1789.
Take profit at 1.1661.
Reason for the trading strategy (technically):
EURUSD is approaching its resistance at 1.1743 (61.8% Fibonacci extension, 76.4% Fiboancci retracement, horizontal swing high resistance) where price could reverse off and move towards its support at 1.1661 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a reversal might occur.
Stop loss 1.1789.
Take profit at 1.1661.
Reason for the trading strategy (technically):
EURUSD is approaching its resistance at 1.1743 (61.8% Fibonacci extension, 76.4% Fiboancci retracement, horizontal swing high resistance) where price could reverse off and move towards its support at 1.1661 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a reversal might occur.