Finally the prices have dropped within the expected territory (1.4950-1.4820). Prices are at 1.4950 and 0.618 support of the rally from 1.4820 to 1.5030/50 and is close to 1.4900 levels. It is expected to take positions on the long side from here on (or as close to 1.4950). We expect a thrust impulse rally from here on which shall move towards 1.5200 levels soon enough.
Trade Recommendations:
Long positions are rcommended at 1.4950 and 1.4750, targetting 1.5200 and 1.5400.
