Price reversed perfectly below our major resistance at 1.0550 (horizontal overlap resistance, Fibonacci retracement, Fibonacci projection) where we expect a further drop to 1.0410.
RSI (34) continues to drop below previous 59% support signalling a reversal has been confirmed.
Sell below 1.0550. Stop loss at 1.0630. Take profit at 1.0410
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price reversed perfectly below our major resistance at 1.0550 (horizontal overlap resistance, Fibonacci retracement, Fibonacci projection) where we expect a further drop to 1.0410.
RSI (34) continues to drop below previous 59% support signalling a reversal has been confirmed.
Sell below 1.0550. Stop loss at 1.0630. Take profit at 1.0410
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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