It's time for Wednesday's Main Dukascopy Spike Controller. Let’s take a look at the average and peak spread levels for the three non-cross majors. Euro/Dollar…
We prepare to sell below major resistance at 1.0711 (Fibonacci retracement, horizontal overlap resistance) for a push down to 1.0525 support (Fibonacci retracement, recent swing low support).
RSI (34) is approaching strong resistance at 60% where we expect to see a corresponding drop in the price too.
Sell below 1.0711. Stop loss is at 1.0762. Take profit is at 1.0525.
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