Eurusdfib
EURUSD fib levelsEURUSD fib levels
eurusd is pulling up after down-trending to 1.065
# possible short after rejection under 1.085 , 23.6% fib
# possible long after breaking 1.085 price level + confirming 1.085 as support, Tp1 at 1.1074 ( 50% fib) or Tp2 1.1174 (61.8% fib)
remember all direction need confirmation before opening
EURUSD testing major resistance, remain bearishSell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159.
Reason for the trading strategy (technically):
Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 95% level.
EURUSD approaching profit target, remain bullishBuy above 1.0600. Stop loss at 1.0562. Take profit at 1.0704.
Reason for the trading strategy (technically):
Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support (Fibonacci retracement, horizontal swing low support, ascending support) for a further push up to 1.0704 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (55,5,3) still has good upside potential for its corresponding rise.
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EURUSD turn bearish with break of our long term supportSell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623.
Reason for the trading strategy (technically):
With the break of our long term ascending support-turned-resistance line, we turn bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support).
Stochastic (55,5,3) has made a bearish exit signalling a further drop is expected.