Sell below 88.15. Stop loss at 88.60. Take profit at 87.52.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.