Sell below 1.0585. Stop loss at 1.0660. Take profit at 1.0450.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
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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.
Related publications
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.