Sell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price reacted really nicely from our selling area. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) is seeing a reaction off our 93% level of resistance.
RSI (34) is also seeing a reaction off our 65% level of resistance.
Reason for the trading strategy (technically):
Price reacted really nicely from our selling area. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) is seeing a reaction off our 93% level of resistance.
RSI (34) is also seeing a reaction off our 65% level of resistance.
