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MEX_Exchange

EURUSD dropping perfectly from our selling area, remain bearish

Short
Euro / U.S. Dollar (FX:EURUSD)  
MEX_Exchange  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD eurusdshort eurusdlong eurusdprediction eurusdforecast Forex forextrading
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trendanalysis harmonicpatterns chartpattern eurusd eur usd eurusdshort eurusdlong eurusdprediction eurusdforecast forex forextrading

Sell below 1.1846. Stop loss at 1.1880. Take profit at 1.1764.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is reacting nicely off its resistance and we expect a further drop from here.
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