From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level of 170.50 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area of 170.50 then 171.50, but immediately it bounced again from the resistance level of 171.50 to reverse its upward direction and currently the price is trading around this resistance area. More bullish signals are still expected in case of closing above this resistance area with first target few pips below the resistance level of 172.00, hence we should wait for more confirmations before making the decision.
Resistance and support levels: R3 (172.50), R2 (172.00), R1 (171.50), S1 (170.50), S2 (169.75), S3 (168.50).
The material has been provided by InstaForex Company – www.instaforex.com
Overview
From the today’s H4 chart and as it was expected yesterday, the pair might take a new bullish signals in case of closing 4H above the resistance level of 170.50 after it has been tested yesterday. Today the pair took an upward movement and managed to break the strong resistance area of 170.50 then 171.50, but immediately it bounced again from the resistance level of 171.50 to reverse its upward direction and currently the price is trading around this resistance area. More bullish signals are still expected in case of closing above this resistance area with first target few pips below the resistance level of 172.00, hence we should wait for more confirmations before making the decision.
Resistance and support levels: R3 (172.50), R2 (172.00), R1 (171.50), S1 (170.50), S2 (169.75), S3 (168.50).
The material has been provided by InstaForex Company – www.instaforex.com
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