Reason for the trading strategy (technically):
Price is testing major resistance at 1.1760 ( , horizontal swing high resistance) and we expect to see a drop from this level to at least 1.1649 support ( , , horizontal swing low support). It is important to keep an eye out for the ascending support line that has held price up really well. Only a break of that level would open a stronger drop towards our profit target.
(34,5,3) is seeing strong resistance below our 98% level.