Sell below 1.0735. Stop loss at 1.0674. Take profit at 1.0776.
Reason for the trading strategy (technically):
Price has reacted off our selling area perfectly. We remain bearish below major resistance at 1.0735 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 1.0674 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing strong resistance below the 98% level where we expect a drop from.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/20-april-2017/
They're very useful for forex scalping, day trading and swing trading opportunities.
Reason for the trading strategy (technically):
Price has reacted off our selling area perfectly. We remain bearish below major resistance at 1.0735 (Fibonacci retracement, horizontal overlap resistance) for a drop to at least 1.0674 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing strong resistance below the 98% level where we expect a drop from.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/20-april-2017/
They're very useful for forex scalping, day trading and swing trading opportunities.