Price has reached our profit target perfectly. Now we are ready to sell below 0.7740 resistance (Fibonacci extension, horizontal resistance, bearish divergence) for a push down to 0.7663 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7767 (Elliott wave theory, Fibonacci extension) in case price makes a further push up before dropping.
Stochastic (21,5,3) is seeing resistance at 93% and also bearish divergence vs price.
Sell below 0.7740. Stop loss at 0.7767. Take profit at 0.7663.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price has reached our profit target perfectly. Now we are ready to sell below 0.7740 resistance (Fibonacci extension, horizontal resistance, bearish divergence) for a push down to 0.7663 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7767 (Elliott wave theory, Fibonacci extension) in case price makes a further push up before dropping.
Stochastic (21,5,3) is seeing resistance at 93% and also bearish divergence vs price.
Sell below 0.7740. Stop loss at 0.7767. Take profit at 0.7663.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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