EURUSD Approaching Resistance, Prepare For A Reversal
Sell below 1.1656.
Stop loss 1.1694.
Take profit at 1.1567.
Reason for the trading strategy (technically):
EURUSD is approaching its resistance at 1.1656 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.1567(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
Stop loss 1.1694.
Take profit at 1.1567.
Reason for the trading strategy (technically):
EURUSD is approaching its resistance at 1.1656 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.1567(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.