Technical summary: Since the 139.84 low a simple zig-zag correction has unfolded. This correction should soon end for renewed downside pressure towards 139.84 and lower towards 137.01. Short-term break below minor support at 140.13 would confirm that the correction is over.
In longer term, we are still looking for a much deeper correction of the rally from 94.10 to 145.69 towards the ideal target at 126.00.
Trading recommendation: Our sell order at 140.95 was exactly hit and we are now short EUR and will place stop at 141.60. If you are not shot EUR yet, then sell here or upon a break below 140.13 with the same stop at 141.60.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s support and resistance levels:
R3: 141.57
R2: 141.10
R1: 140.95
Current spot: 140.73
S1: 140.50
S2: 140.13
S3: 139.84
Technical summary:
Since the 139.84 low a simple zig-zag correction has unfolded. This correction should soon end for renewed downside pressure towards 139.84 and lower towards 137.01. Short-term break below minor support at 140.13 would confirm that the correction is over.
In longer term, we are still looking for a much deeper correction of the rally from 94.10 to 145.69 towards the ideal target at 126.00.
Trading recommendation:
Our sell order at 140.95 was exactly hit and we are now short EUR and will place stop at 141.60. If you are not shot EUR yet, then sell here or upon a break below 140.13 with the same stop at 141.60.
The material has been provided by InstaForex Company – www.instaforex.com
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