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We prepare to sell below major resistance at 1.0711 (Fibonacci retracement, horizontal overlap resistance) for a push down to 1.0525 support (Fibonacci retracement, recent swing low support).

RSI (34) is approaching strong resistance at 60% where we expect to see a corresponding drop in the price too.

Sell below 1.0711. Stop loss is at 1.0762. Take profit is at 1.0525.


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

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