Sell below 1.0585. Stop loss at 1.0660. Take profit at 1.0450.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
