Price has dropped perfectly from our resistance level to our profit target on Friday. We turn bullish above 112.65 major support (Fibonacci projection, horizontal support, bullish divergence) for a push up to 113.94.

RSI (34) is seeing major support at 24% and has displayed bullish divergence vs price.

Stochastic (34,5,3) is above major support at 4% and also displaying bullish divergence vs price.

Buy above 112.65. Stop loss at 112.03. Take profit at 113.94.

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The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com

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