The price continues to approach our selling area at 1.0502 which is a major resistance level (Fibonacci retracement, horizontal overlap resistance, Fibonacci projection) and we expect to see a bearish reaction off this level for a drop to at least 1.0325 support (Fibonacci projection level).
RSI (34) is seeing major resistance below our descending resistance line.
Sell below 1.0502. Set stop loss at 1.0600 and take profit at 1.0325.
From www.instaforex.com http://ift.tt/2i9WXCL
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