Buy above 0.9536. Stop loss at 0.9493. Take profit at 0.9655.
Reason for the trading strategy (technically):
Price continues to test major support at 0.9536 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we remain bullish above this level for a bounce up to at least 0.9655 resistance (Fibonacci retracement, horizontal swing high resistance, price gap).
Stochastic (34,5,3) is testing major support at 3.8% where we expect a bounce from.
Reason for the trading strategy (technically):
Price continues to test major support at 0.9536 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we remain bullish above this level for a bounce up to at least 0.9655 resistance (Fibonacci retracement, horizontal swing high resistance, price gap).
Stochastic (34,5,3) is testing major support at 3.8% where we expect a bounce from.
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.
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.