Sell below 1.1523.
Stop loss at 1.1583.
Take profit at 1.1400.
Reason for the trading strategy (technically):
EURUSD is testing its resistance at 1.1523 (61.8% Fibonacci extension, 61.8% & 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.1400 (61.8% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop is expected.
Stop loss at 1.1583.
Take profit at 1.1400.
Reason for the trading strategy (technically):
EURUSD is testing its resistance at 1.1523 (61.8% Fibonacci extension, 61.8% & 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.1400 (61.8% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 97% where a corresponding drop is expected.