Price holding above ascending trendline support. A short term intraday bounce above 1st support at 1.75907 towards recent swing high and 1st resistance at 1.76698 can be expected. Stochastic is reacting above support where price bounced in the past as well.
Reason for Entry:
78.6% Fibonacci retracement, ascending trendline support
Take Profit: 1.76698
Reason for Take Profit:
Graphical swing high resistance
Stop Loss: 1.75525
Reason for Stop Loss:
Graphical swing low
*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.