The price has dropped absolutely perfectly and has reached our profit target. We prepare to buy above major support at 0.7202 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7331 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 3.3% where we expect a further bounce from.
Buy above 0.7202. Stop loss is at 0.7153. Take profit is at 0.7331.
The material has been provided by InstaForex Company – www.instaforex.com