Buy above 0.9598. Stop loss at 0.9557. Take profit at 0.9697.
Reason for the trading strategy (technically):
Price has shot down perfectly from our selling level and reached our profit targets. We prepare to buy above major support at 0.9598 (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.9697 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 2.3% where we expect a corresponding bounce in price from.
Reason for the trading strategy (technically):
Price has shot down perfectly from our selling level and reached our profit targets. We prepare to buy above major support at 0.9598 (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.9697 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 2.3% where we expect a corresponding bounce in price from.