Sell below 1.0068. Stop loss at 1.0114. Take profit at 0.9973.
Reason for the trading strategy (technically):
We continue to remain bearish below 1.0068 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) as we look to play the drop towards 0.9973 support (Fibonacci retracement, Fibonacci extension).
Stochastic (34,5,3) is now on pullback resistance where we expect another bearish reaction to occur.
Reason for the trading strategy (technically):
We continue to remain bearish below 1.0068 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) as we look to play the drop towards 0.9973 support (Fibonacci retracement, Fibonacci extension).
Stochastic (34,5,3) is now on pullback resistance where we expect another bearish reaction to occur.
