Sell below 1.0136. Stop loss at 1.0116. Take profit at 1.0071.
Reason for the trading strategy (technically):
Price has bounced up perfectly as expected yesterday and has reached our profit target. We turn bearish closing off our profitable bullish position because of the changing elements. We now look to sell below 1.0136 resistance (Fibonacci extension,...
Buy above 1.0033. Stop loss at 1.0000. Take profit at 1.0090.
Reason for the trading strategy (technicall y):
Price is approaching major support at 1.0033 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect to see a bounce towards at least 1.0090 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is...
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044.
Reason for the trading strategy (technically):
Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044...
