Buy above 131.19. Stop loss at 130.75. Take profit at 132.08.
Reason for the trading strategy (technically):
Due to the changing nature of the market, we’re starting to see a corrective push down to at least 131.19 support (Fibonacci extension, horizontal swing low support) where we expect a bounce up from to at least 132.08 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (55,5,3) is seeing strong support above 1.4%.
Reason for the trading strategy (technically):
Due to the changing nature of the market, we’re starting to see a corrective push down to at least 131.19 support (Fibonacci extension, horizontal swing low support) where we expect a bounce up from to at least 132.08 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (55,5,3) is seeing strong support above 1.4%.