Price reacted off our resistance level perfectly as expected. We can take profits on our initial short position. The plan today is to wait until price bounces up to our major resistance level at 1.2985 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) where we expect a reaction from and a drop to at least 1.2765.
RSI (34) is approaching 57% resistance level where we expect price to drop from.
Stochastics (21,5,3) is also seeing resistance at a key 89% level.
Sell below 1.2985. Stop loss is at 1.3100. Take profit is at 1.2765.
The material has been provided by InstaForex Company - www.instaforex.comfrom www.instaforex.com http://ift.tt/2bfPGkd
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