EURCHF Reversed Off Resistance, Prepare For Further Drop
Sell below 1.1421.
Stop loss at 1.1485.
Take profit at 1.1264.
Reason for the trading strategy (technically):
EURCHF reversed off its resistance at 1.1421 (38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.1264 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off near its resistance at 96% where a corresponding drop is expected.
Stop loss at 1.1485.
Take profit at 1.1264.
Reason for the trading strategy (technically):
EURCHF reversed off its resistance at 1.1421 (38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.1264 (horizontal swing low support).
Stochastic (55, 5, 3) reversed off near its resistance at 96% where a corresponding drop is expected.