EURUSD testing major resistance, remain bearish
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159.
Reason for the trading strategy (technically):
Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 95% level.
Reason for the trading strategy (technically):
Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 95% level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.