The price reached our selling area and dropped perfectly from there towards our profit target. We now prepare to go bullish above the 86.45 support (Fibonacci retracement, horizontal swing low support) for a push up to 87.49 resistance (Fibonacci extension, swing high resistance).

Stochastic (21,5,3) is seeing strong support above 6.3% where we expect a bounce from.

Buy above 86.45. Stop loss at 85.77. Take profit at 87.49.

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The material has been provided by InstaForex Company – www.instaforex.com

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