The price is testing major resistance at 1.2938 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level for a drop to at least 1.2837 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is testing major resistance at 93% and we expect a corresponding reaction off that level similar to the one we're expecting on price.
Sell below 1.2938. Stop loss is at 1.2994. Take profit is at 1.2837.
The material has been provided by InstaForex Company - www.instaforex.com
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