AUDUSD Approaching Resistance, Prepare For Reversal!
Sell below 0.7438.
Stop loss at 0.7465.
Take profit at 0.7382.
Reason for the trading strategy (technically):
AUDUSD is approaching its resistance at 0.7438 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.7382 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a corresponding drop is expected.
Stop loss at 0.7465.
Take profit at 0.7382.
Reason for the trading strategy (technically):
AUDUSD is approaching its resistance at 0.7438 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 0.7382 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 96% where a corresponding drop is expected.