The price has reached our profit target again. We remain bearish looking to sell at the major resistance at 114.00 (Fibonacci retracement, horizontal pullback resistance) for a continued drop to 112.25.
RSI (21) is below 71% resistance. We expect some fluctuation, and RSI is likely to continue to drop along with the price.
Sell below 114.00. Place stop loss at 114.75 and take profit at 112.25.
The material has been provided by InstaForex Company – www.instaforex.com
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