Sell below 1.2546. Stop loss at 1.2632. Take profit at 1.2356.
Reason for the trading strategy (technically):
Price has bounced and reached our profit target from yesterday. We turn bearish below 1.2546 resistance (Fibonacci retracement horizontal overlap resistance) for a push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support).
RSI (34) is seeing strong descending resistance holding price down.
Reason for the trading strategy (technically):
Price has bounced and reached our profit target from yesterday. We turn bearish below 1.2546 resistance (Fibonacci retracement horizontal overlap resistance) for a push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support).
RSI (34) is seeing strong descending resistance holding price down.
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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.
Related publications
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.