Buy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811. Reason for the trading strategy (technically): Price has dropped strongly towards our profit target as expected. We prepare to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support) for a bounce up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is approaching major support at 1.6% where a corresponding bounce is expected.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.