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theforexarmy

EURUSD prepare to sell below major resistance

Short
Euro / U.S. Dollar (FX:EURUSD)  
theforexarmy  
FX:EURUSD   Euro / U.S. Dollar
EURUSD eurusdshort eurusdidea eurusddaily eurusdnews eurusdlong USD EUR eurusdanalysis eurusd1hr eurusdlongsetup eurusdsell eurusdsignal
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eurusd eurusdshort eurusdidea eurusddaily eurusdnews eurusdlong usd eur eurusdanalysis eurusd1hr eurusdlongsetup eurusdsell eurusdsignal
Sell below 1.0711. Stop loss at 1.0762. Take profit at 1.0525.
Reason for the trading strategy (technically):
We prepare to sell below major resistance at 1.0711 (Fibonacci retracement, horizontal overlap resistance) for a push down to 1.0525 support (Fibonacci retracement, recent swing low support).
RSI (34) is approaching strong resistance at 60% where we expect to see a corresponding drop in price too.
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