EURUSD profit target reached, prepare to turn bearish again
Sell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly from previously. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) has made a bearish exit previously and still remains in a bearish configuration.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly from previously. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) has made a bearish exit previously and still remains in a bearish configuration.
