Wave summary:
The impulsive rally of the 1.5072 does not look complete yet and might even extend closer to 1.5914 before completing and setting the stage for a more substantial correction towards 1.5400 which marks the bottom of wave [iv].
The first indication that wave i is complete will be a break below minor support at 1.5639.
Trading recommendation:
Our take-profit at 1.5700 was hit for a nice profit. We will wait for signs of a top or a correction before engaging.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.
Wave summary:
The impulsive rally of the 1.5072 does not look complete yet and might even extend closer to 1.5914 before completing and setting the stage for a more substantial correction towards 1.5400 which marks the bottom of wave [iv].
The first indication that wave i is complete will be a break below minor support at 1.5639.
Trading recommendation:
Our take-profit at 1.5700 was hit for a nice profit. We will wait for signs of a top or a correction before engaging.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: