Price has shot up perfectly and reached our profit target from yesterday. We prepare to turn bearish below 122.71 major resistance (Fibonacci projection, rejection candlestick, bearish divergence vs RSI) for a drop towards at least 120.46.
RSI (34) displays major bearish divergence vs price signalling a major reversal is impending.
Sell below 112.71. Stop loss at 123.45. Take profit at 120.46.
The material has been provided by InstaForex Company – www.instaforex.com
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