MEX_Exchange
Short

EURUSD testing resistance, remain bearish

FX:EURUSD   Euro / U.S. Dollar
Sell below 1.1994. Stop loss at 1.2035. Take profit at 1.1838.
Reason for the trading strategy (technically):
Price is back to testing our resistance area . We remain bearish looking to sell below major resistance at 1.1994 ( Fibonacci extension , Fibonacci retracement , horizontal overlap resistance) and we expect a further drop from this level to push price down to at least 1.1838 support ( Fibonacci extension , horizontal swing low support, Fibonacci retracement ).
Stochastic (55,3,1) is seeing major resistance below 95% where stochastic has good downside potential from.
Very Good.
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