The price dropped perfectly towards our profit target. We remain bearish below 0.7300 major resistance (horizontal resistance, Fibonacci retracement) for a drop to 0.7220. The key strategy today is to sell when price makes a bounce up towards 0.7300 level as we are clearly in a triangle formation and the opportunity lies in playing the ranges.
RSI (21) is below resistance.
Sell below 0.7300. Place stop loss at 0.7360 and take profit at 0.7220
The material has been provided by InstaForex Company – www.instaforex.com
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