Support: 1.5426 (buy above this level for retesting this level for a short period).
Trend (time frame: H1/H4): Upward (there is still an ongoing bullish trend).
Range: 125 pips (for two days).
Trading recommendations:
According to the previous events, the price is still between the levels of 1.5500 and 1.5460.
The descending movement will probably be lower than 1.5650 with the first targets at 1.5585 and 1.5426 (it should be noted that the price at 1.5426 is the weekly pivot point for August 12 – 16, 2013).
Buy deals are recommended above 1.5430 with targets at 1.5500 and 1.5575 in order to form a double top, then if the price breaks this peak point, the market will resume towards the resistance at the level of 1.5650.
Intraday technical levels:
R3: 1.5580
R2: 1.5545
R1: 1.5495
PP: 1.5460
S1: 1.5410
S2: 1.5375
S3: 1.5325
The material has been provided by InstaForex Company – www.instaforex.com
The material has been provided by InstaForex Company – www.instaforex.com
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