Price bounced up as expected, reached our profit target of 1.0475, and dropped from there forming an impending inverse head-and-shoulders pattern. We remain bullish above 1.0425 support for another push up to 1.0475.
RSI (21) is seeing support above our ascending support line that will keep our bullish bias on price.
Buy above 1.0415. Stop loss is at 1.0390. Take profit is at 1.0475.
The material has been provided by InstaForex Company – www.instaforex.com
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