Reason for the trading strategy:
Price has reached our selling area and is reacting off it perfectly. This week we remain below major resistance at 1.1300 (Multiple Fibonacci extensions, theory, horizontal swing high resistance, divergence) for a further drop towards 1.0930 support ( , horizontal pullback support).
(89,5,3) is seeing major resistance below the 95% level where we expect a drop from soon. We also see divergence vs price signalling that a drop is impending.