EURCHF Testing Support, Prepare For A Bounce
Buy above 1.1244.
Stop loss at 1.1202.
Take profit at 1.1303.
Reason for the trading strategy (technically):
EURCHF is approaching its support at 1.1244 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 1.1303 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 1.91% where a corresponding bounce is expected.
Stop loss at 1.1202.
Take profit at 1.1303.
Reason for the trading strategy (technically):
EURCHF is approaching its support at 1.1244 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 1.1303 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 1.91% where a corresponding bounce is expected.
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