Buy above 0.7303. Stop loss at 0.7243. Take profit at 0.7409.
Reason for the trading strategy (technically):
Price is approaching strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
Reason for the trading strategy (technically):
Price is approaching strong support at 0.7303 (Fibonacci retracement, swing low support, bullish price action) and we expect a bounce above this level to push price up to at least 0.7409 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 3.9% where we expect a bounce from.
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