Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159.
Reason for the trading strategy (technically):
Price continues to test our resistance as it shapes up nicely for a drop. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 95% level.
Reason for the trading strategy (technically):
Price continues to test our resistance as it shapes up nicely for a drop. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 95% level.