EURCHF Reversed Off Resistance, Prepare For Further Drop
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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.