The price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliott wave theory) and we expect to see a strong drop from this level towards 131.90 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% and we expect to see a corresponding drop from this level soon.
Sell below 133.55. Stop loss is at 133.96. Take profit is at 131.90.
The material has been provided by InstaForex Company – www.instaforex.com
The price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliott wave theory) and we expect to see a strong drop from this level towards 131.90 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% and we expect to see a corresponding drop from this level soon.
Sell below 133.55. Stop loss is at 133.96. Take profit is at 131.90.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: