Sell below 1.1862. Stop loss at 1.1974. Take profit at 1.1728.
Reason for the trading strategy (technically):
We remain bearish after EURUSD has triggered our sell entry. We look to sell below major resistance at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) for price to drop to at least 1.1728 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,3,1) is dropping nicely from our 94% resistance level pushing price to the next support level. We still have good downside potential for this strategy.
Reason for the trading strategy (technically):
We remain bearish after EURUSD has triggered our sell entry. We look to sell below major resistance at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) for price to drop to at least 1.1728 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,3,1) is dropping nicely from our 94% resistance level pushing price to the next support level. We still have good downside potential for this strategy.
When the trading room is launched I will be better able to guide you all in real-time. Try to get out of the trade when it retraces.