EUR/USD Trading Recommendations for 8th August 2016
August 1, 2016 2:14 am
1.1235 is the golden ratio Fibonacci retracement from the high of 24th June, 2016. It is also a 1.0 Fibonacci projection as seen by the brown arrows. This is a key resistance level for us to sell off.
1.1075 is our first profit target because it is a graphical support + 50% Fibonacci retracement level.
RSI has reacted off the 76% resistance level triggering a bearish move.
Stochastics has reacted off our 82% to 92% resistance level triggering a bearish move.
Trading Recommendations :
Sell now and once more at 1.1235
Stop loss at 1.1305
Take profit at 1.1075
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
1.1235 is the golden ratio Fibonacci retracement from the high of 24th June, 2016. It is also a 1.0 Fibonacci projection as seen by the brown arrows. This is a key resistance level for us to sell off.
1.1075 is our first profit target because it is a graphical support + 50% Fibonacci retracement level.
RSI has reacted off the 76% resistance level triggering a bearish move.
Stochastics has reacted off our 82% to 92% resistance level triggering a bearish move.
Trading Recommendations :
Sell now and once more at 1.1235
Stop loss at 1.1305
Take profit at 1.1075
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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