Price tested and reacted below descending trendline resistance. A short term drop below 1st resistance at 87.053 towards 1st support at 86.856 could be expected. Price is below moving average and MACD indicator is below 0 showing room for further bearish downside as well.
Trading Recommendation
Entry: 87.053
Reason for Entry:
61.8% Fibonacci retracement, descending trendline resistance
Take Profit: 86.856
Reason for Take Profit:
-27.2% Fibonacci retracement, 61.8% Fibonacci extension, Graphical swing low
Stop Loss: 87.132
Reason for Stop Loss:
Graphical swing high
