Price has risen to our selling level at 0.7150 as expected. This is a major resistance (horizontal resistance + Fibonacci retracement + bearish candlestick reversal). We sell from here for a drop to 0.7070.
Stochastics (21,5,3) has also turned down from our area of resistance signaling a bearish move it approaching.
Trading Recommendations:
Sell below 0.7150.
Stop Loss at 0.7225.
Take profit at 0.7070.
The material has been provided by InstaForex Company - www.instaforex.com