Price is testing our first support, in line with our ascending trend line, graphical pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this level. A break above our upside confirmation could see a further push up to test our first resistance target.
Reason for Entry:
ascending trend line, graphical pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension
Take Profit: 1.37767
Reason for Take Profit:
78.6% fibonacci extension
Stop Loss: 1.36642
Reason for Stop Loss:
61.8% fibonacci retracement, 78.6% fibonacci extension
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.