Sell below 88.09. Stop loss at 88.71. Take profit at 86.69.
Reason for the trading strategy (technically):
Price continues to test our major resistance area at 88.09 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and we remain bearish looking for a drop towards 86.69 support (Fibonacci retracement, horizontal support).
Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely.
Reason for the trading strategy (technically):
Price continues to test our major resistance area at 88.09 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and we remain bearish looking for a drop towards 86.69 support (Fibonacci retracement, horizontal support).
Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely.