The price is testing major resistance at 0.7868 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push the price down to at least 0.7794 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,3,1) is seeing major resistance below 98% and we expect to see a strong reaction off this level too.

Sell below 0.7868. Stop loss is at 0.7910. Take profit is at 0.7794.


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

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