Sell below 0.7480. Stop loss at 0.7510. Take profit at 0.7394.
Reason for the trading strategy (technically):
Price is fast approaching major resistance at 0.7480 (highest point for past 2 years) and we expect to see a drop from that level to at least 0.7394 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing nice resistance below 94% and we expect to see a corresponding drop from this level.
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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.