Price spiked up perfectly to our profit target as expected. We now turn bearish below 115.66 major resistance (horizontal resistance, Fibonacci projection) for a drop towards 114.83.
RSI (34) is facing a long-term descending resistance which caps our move.
Sell below 115.66. Place stop loss at 116.00 and take profit at 114.83.
The material has been provided by InstaForex Company – www.instaforex.com
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