EUR/USD prepare to sell on strength

We look to sell below major resistance at 1.1391 (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 1.1296 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).

RSI (55) has seen its long term ascending support-turned-resistance line broken triggering a bearish exit and a change in momentum from bullish to bearish. In this configuration, we remain bearish looking for selling opportunities.

Sell below 1.1391. Stop loss 1.1431. Take profit at 1.1296.


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