Wave summary:
We still expect a decline closer to the support line near 124.00 before a faster corrective rally can occur.
In a short term, a break below 126.36 will confirm the expected downside pressure towards 124.00.
Resistance is now seen at 127.36. This resistance will protect the upside for the break below 126.36.
Trading recommendation:
Short positions are recommended at 126.10 looking for a move lower to 124.00.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
We still expect a decline closer to the support line near 124.00 before a faster corrective rally can occur.
In a short term, a break below 126.36 will confirm the expected downside pressure towards 124.00.
Resistance is now seen at 127.36. This resistance will protect the upside for the break below 126.36.
Trading recommendation:
Short positions are recommended at 126.10 looking for a move lower to 124.00.
The material has been provided by InstaForex Company – www.instaforex.com
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