Price is now testing major resistance at 87.49 (Fibonacci extension, horizontal resistance, bearish divergence) where we expect a drop to at least 86.45 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance and also bearish divergence signaling an impending bearish reversal is approaching.
Sell below 87.49. Stop loss at 87.68. Take profit at 86.45.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price is now testing major resistance at 87.49 (Fibonacci extension, horizontal resistance, bearish divergence) where we expect a drop to at least 86.45 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance and also bearish divergence signaling an impending bearish reversal is approaching.
Sell below 87.49. Stop loss at 87.68. Take profit at 86.45.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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