EURUSD profit target reached,prepare to sell on major resistance
Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price has dropped strongly and reached our profit target from previously. We suspect that there will be a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
RSI (34) is in an overall bearish dynamic configuration.
Reason for the trading strategy (technically):
Price has dropped strongly and reached our profit target from previously. We suspect that there will be a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
RSI (34) is in an overall bearish dynamic configuration.
Disclaimer
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.