Buy above 0.7336. Stop loss at 0.7305. Take profit at 0.7389.
Reason for the trading strategy (technically):
Price had bounced off our support level perfectly from yesterday. We remain bullish looking to buy on dips above 0.7336 (Fibonacci retracement, horizontal pullback support) for a further push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is bouncing nicely off our 8% support and has good upside potential.
Reason for the trading strategy (technically):
Price had bounced off our support level perfectly from yesterday. We remain bullish looking to buy on dips above 0.7336 (Fibonacci retracement, horizontal pullback support) for a further push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is bouncing nicely off our 8% support and has good upside potential.
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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.
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.