On back to back engulfing bearish candlesticks with long real body proposes extended weakness in this pair.For optimal entry points fresh longs on ATM calls are to be built up on every upswings don’t add at the bottoms.We see immediate resistance at 1.1231 for straight targets of 15 pips within hourly contracts.RRR (Risk Reward Ratio) would be 0.083 (8.3%).
The material has been provided by InstaForex Company – www.instaforex.com