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. It has also made a very nice pullback and recently displayed a bounce above this descending support line. We turn bullish above 0.9958...
Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857. Reason for the trading strategy (technically): Price is dropping nicely from yesterday. We remain bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection, long term descending resistance, EURUSD negative correlation) for another push down to 0.9857...
Sell below 0.9958. Stop loss at 1.0027. Take profit at 0.9857. Reason for the trading strategy (technically): We remain bearish below 0.9958 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) for another push down to 0.9857 support (Fibonacci projection, recent swing low support). Stochastic (21,5,3) has reacted off our 92%...