EURCHF Approaching Resistance, Prepare For Reversal!
Sell below 1.1658.
Stop loss at 1.1714.
Take profit at 1.1590.
Reason for the trading strategy (technically):
EURCHF is approaching its resistance at 1.1658 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 1.1590 (23.6% & 38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
Stop loss at 1.1714.
Take profit at 1.1590.
Reason for the trading strategy (technically):
EURCHF is approaching its resistance at 1.1658 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 1.1590 (23.6% & 38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
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