The price has dropped strongly and is now testing major support at 111.37 (Fibonacci extension, horizontal swing low support, bullish bat harmonic formation) and we expect to see a strong bounce above this level to push the price up to at least 112.13 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension).
Stochastic (55,5,3) is seeing major support above 7.7% where we expect a corresponding bounce from.
Buy above 111.37. Stop loss is at 110.80. Take profit is at 112.13.
The material has been provided by InstaForex Company – www.instaforex.com
The price has dropped strongly and is now testing major support at 111.37 (Fibonacci extension, horizontal swing low support, bullish bat harmonic formation) and we expect to see a strong bounce above this level to push the price up to at least 112.13 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension).
Stochastic (55,5,3) is seeing major support above 7.7% where we expect a corresponding bounce from.
Buy above 111.37. Stop loss is at 110.80. Take profit is at 112.13.
The material has been provided by InstaForex Company – www.instaforex.com
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