Buy above 0.7326. Stop loss at 0.7296. Take profit at 0.7398.
Reason for the trading strategy (technically):
Price has formed a new Elliott structure leading us to believe that we should be seeing one last push up before a drop. The goal is to buy above 0.7326 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7398 resistance (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing support above 50% where we expect it to hold price up as long as it remains above this level.
Reason for the trading strategy (technically):
Price has formed a new Elliott structure leading us to believe that we should be seeing one last push up before a drop. The goal is to buy above 0.7326 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7398 resistance (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing support above 50% where we expect it to hold price up as long as it remains above this level.