Sell below 0.7700. Stop loss at 0.7790. Take profit at 0.7520.
Reason for the trading strategy:
We turn bearish below 0.7700 resistance (break of ascending support line, pullback resistance) for a push down to 0.7520 support (Fibonacci retracement, horizontal overlap support).
RSI (34) has started to break its support and sees bearish divergence versus price signalling a bearish reversal is fast approaching.
Reason for the trading strategy:
We turn bearish below 0.7700 resistance (break of ascending support line, pullback resistance) for a push down to 0.7520 support (Fibonacci retracement, horizontal overlap support).
RSI (34) has started to break its support and sees bearish divergence versus price signalling a bearish reversal is fast approaching.