Price shot up above our buy limit and is almost at our profit target. We turn bearish taking our profits and selling below 102.25 resistance (Fibonacci retracement, horizontal resistance) for a drop to 100.00 support.
RSI (21) is testing major resistance at 69% and is in an overbought area.
Stochastics (21,5,3) is right at 92% major resistance level too.
Sell below 102.25 resistance. Stop loss is at 103.20. Take profit is at 100.00
The material has been provided by InstaForex Company – www.instaforex.com
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