Price tested and reacted below descending trendline resistance. A short term drop below 1st resistance at 1.54984 towards 1st support at 1.54750 could be expected. Stochastic is testing resistance where price pulled back lower in the past.
Trading Recommendation
Entry: 1.54984
Reason for Entry:
78.6% Fibonacci retracement, descending trendline resistance
Take Profit: 1.54750
Reason for Take Profit:
Graphical swing low, ascending trendline support
Stop Loss: 1.55272
Reason for Stop Loss:
161.8% Fibonacci retracement, graphical swing high