The price is testing major resistance at 0.9991 (Fibonacci retracement, horizontal overlap resistance, and bearish divergence) where we expect a reaction from for the price to drop to at least the 0.9923 support (Fibonacci retracement, short-term horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below the 91% level and also displays bearish divergence vs. the price, signaling that an impending reversal is coming.
Sell below 0.9991. Stop loss is at 1.0040. Take profit is at 0.9923.
No comments:
Post a Comment