FX.co ★ EUR/USD profit target reached perfectly, prepare to sell for a drop

The price has shot up from our buying level yesterday perfectly and reached our profit target once again. We prepare to sell below major resistance at 1.1691 (Fibonacci extension, Elliott wave theory) for a corrective push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing major resistance below 98% where we expect a corresponding reaction from.

Sell below 1.1691. Stop loss is at 1.1736. Take profit is at 1.1583.