Buy above 1.0600. Stop loss at 1.0562. Take profit at 1.0704.
Reason for the trading strategy (technically):
Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support (Fibonacci retracement, horizontal swing low support, ascending support) for a further push up to 1.0704 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (55,5,3) still has good upside potential for its corresponding rise.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/18-april-2017/
Reason for the trading strategy (technically):
Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support (Fibonacci retracement, horizontal swing low support, ascending support) for a further push up to 1.0704 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (55,5,3) still has good upside potential for its corresponding rise.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/18-april-2017/
