Sell below 130.93. Stop loss at 131.43. Take profit at 129.32.
Reason for the trading strategy (technically):
We remain bearish looking to sell on strength below 130.93 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a strong push down to at least 12932 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 92% and we expect a further drop from this level.
Reason for the trading strategy (technically):
We remain bearish looking to sell on strength below 130.93 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a strong push down to at least 12932 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 92% and we expect a further drop from this level.