Price broke below ascending trendline support (now resistance) and is also holding below moving average. A further drop below 1st resistance at 1.27752 towards 1st support at 1.27310 can be expected.
Trading Recommendation
Entry: 1.27752
Reason for Entry:
23.6% Fibonacci retracement, ascending trendline resistance
Take Profit: 1.27310
Reason for Take Profit:
-27.2% Fibonacci retracement
Stop Loss: 1.27903
Reason for Stop Loss:
38.2% Fibonacci retracement
The material has been provided by InstaForex Company - www.instaforex.com