Sell below 1.1203. Stop loss at 1.1243. Take profit at 1.1107.
Reason for the trading strategy (technically):
Price is now testing our resistance and right on our selling area. We remain bearish with price breaking a major support-turned-resistance line at 1.1203 (Fibonacci retracement, horizontal overlap resistance) and expect a stronger drop to at least 1.1107 support (Fibonacci retracement, horizontal swing low support).
RSI (21) is seeing long term descending resistance holding price down.
Reason for the trading strategy (technically):
Price is now testing our resistance and right on our selling area. We remain bearish with price breaking a major support-turned-resistance line at 1.1203 (Fibonacci retracement, horizontal overlap resistance) and expect a stronger drop to at least 1.1107 support (Fibonacci retracement, horizontal swing low support).
RSI (21) is seeing long term descending resistance holding price down.