Euro / DollaroShort
EURUSD Broke Out Of Its Ascending Resistance Line
Sell below 1.2350. Stop loss 1.2391. Take profit 1.2259.
Reason for trading strategy:
EURUSD broke out of its ascending support-turned-resistance line where we look to sell on strength at 1.2350 (23.3% Fibonacci retracement, horizontal overlap resistance). We expect price to fall all the way to its support at 1.2259 (61.8% Fibonacci extension, 78.6% Fibonacci retracement). We have also identified another resistance at 1.2391 (76.4% Fibonacci retracement).
RSI (55) has broken out of its ascending support line and is being held down by a long term descending resistance line. Also, we are starting to see some bearish pressure in the Ichimoku cloud which contributes to our bearish bias.
Reason for trading strategy:
EURUSD broke out of its ascending support-turned-resistance line where we look to sell on strength at 1.2350 (23.3% Fibonacci retracement, horizontal overlap resistance). We expect price to fall all the way to its support at 1.2259 (61.8% Fibonacci extension, 78.6% Fibonacci retracement). We have also identified another resistance at 1.2391 (76.4% Fibonacci retracement).
RSI (55) has broken out of its ascending support line and is being held down by a long term descending resistance line. Also, we are starting to see some bearish pressure in the Ichimoku cloud which contributes to our bearish bias.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.