Buy above 0.7119. Stop loss at 0.7044. Take profit at 0.7242.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7119 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect a bounce up to at least 0.7242 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above the 4.2% level.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7119 (Fibonacci retracement, Fibonacci extension, horizontal support) where we expect a bounce up to at least 0.7242 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above the 4.2% level.
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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.