Price is now testing major resistance at 1.3653 (Fibonacci retracement, horizontal overlap resistance) and we expect a reaction from this level for a further drop to 1.3503 support (Fibonacci retracement, Elliott wave theory).
RSI (55,5,3) is seeing long term descending resistance holding price down really well.
Sell below 1.3653. Stop loss at 1.3708. Take profit at 1.3503.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price is now testing major resistance at 1.3653 (Fibonacci retracement, horizontal overlap resistance) and we expect a reaction from this level for a further drop to 1.3503 support (Fibonacci retracement, Elliott wave theory).
RSI (55,5,3) is seeing long term descending resistance holding price down really well.
Sell below 1.3653. Stop loss at 1.3708. Take profit at 1.3503.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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