EURCHF Reversed Off Resistance, Prepare For Further Drop
Sell below 1.1378.
Stop loss at 1.1416.
Take profit at 1.1322.
Reason for the trading strategy (technically):
EURCHF reversed off its resistance at 1.1378 (100% Fibonacci extension, 76.4%, 38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.1322(38.2% Fibonacci retracement, horizontal pull back support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop is expected.
Stop loss at 1.1416.
Take profit at 1.1322.
Reason for the trading strategy (technically):
EURCHF reversed off its resistance at 1.1378 (100% Fibonacci extension, 76.4%, 38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.1322(38.2% Fibonacci retracement, horizontal pull back support).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop is expected.
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.