Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price has dropped strongly and reached our profit target from previously. We suspect that there will be a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
RSI (34) is in an overall bearish dynamic configuration.
Reason for the trading strategy (technically):
Price has dropped strongly and reached our profit target from previously. We suspect that there will be a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
RSI (34) is in an overall bearish dynamic configuration.