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MEX_Exchange
27 cze 2017 00:44

USDCHF testing major resistance, remain bearish Short

U.S. Dollar/Swiss FrancFXCM

Opis

Sell below 0.9734. Stop loss at 0.9756. Take profit at 0.9675.
Reason for the trading strategy (technically):
Price is now testing major resistance at 0.9734 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to drive price down to at least 0.9675 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension).
RSI (34) has broken below our long term ascending support-turned-resistance line signalling that a change in momentum is about to be seen in price. It is also now on pullback resistance.
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