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 reversed perfectly as expected. 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) has reversed nicely off our 95% resistance and has good downside potential.
Reason for the trading strategy (technically):
Price has reached our selling area and reversed perfectly as expected. 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) has reversed nicely off our 95% resistance and has good downside potential.