FX.co ★ EUR/USD reversed below our stop loss, remain bearish

Price rose and reversed below our stop loss level. We remain bearish looking to sell below 1.1225 now that price has reintegrated back into our descending channel, playing the drop all the way to 1.1160.

RSI(21) has reacted off resistance at 76% signalling a bearish move is in progress.

Stochastics (21,3,3) has reacted off our 89% resistance as expected from yesterday and still has good downside potential to continue playing the drop.

Sell below 1.1215. Stop loss at 1.1260. Take profit at 1.1160.