0.9625 is a major Fibonacci golden ratio retracement support. We can also see a bullish candlestick reversal right above this level meaning there are a lot of buyers on this level. Our take profit is at 0.9795 which is a horizontal support level + 50% Fibonacci retracement level.
Stochastics has bounced above our support zone of 6% to 14% showing signs of a bullish reversal from here.
Trading Recommendations :
Buy now and once more if price drops to 0.9625.
Take profit at 0.9795.
Stop loss at 0.9570.
The material has been provided by InstaForex Company - www.instaforex.com