Price rose to our selling area before forming a bearish candlestick formation to trigger a stronger bearish drop from here towards 1.4750. Our strategy today is to continue to sell below 1.4890 for a drop.
Stochastics (21,3,3) is turning down from major resistance at 89% signalling a reversal is in place.
RSI (21) is also seeing major resistance at 73%.
Sell below 1.4890. Stop loss is at 1.5035. Take profit is at 1.4750.
The material has been provided by InstaForex Company - www.instaforex.com