USDCHF reversing nicely, remain bearish looking to sell
Sell below 0.9939. Stop loss at 0.9978. Take profit at 0.9832.
Reason for the trading strategy (technically):
Price has started to react off major resistance at 0.9939 (76.4% Fibonacci retracement, Fibonacci extension) and we expect to see price being pushed down to at least 0.9832 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is reversing nicely below our 94% resistance level.
Reason for the trading strategy (technically):
Price has started to react off major resistance at 0.9939 (76.4% Fibonacci retracement, Fibonacci extension) and we expect to see price being pushed down to at least 0.9832 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is reversing nicely below our 94% resistance level.
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