Price made a bounce and reached our first target of 1.5300 yesterday before retracing and forming a really nice inverse head & shoulders reversal pattern. This goes very well in line with our bullish exit from our RSI's channel signalling a good rise from here. If price surpasses 1.5300 (which is still our first target), we can expect a much bigger correction from here to the 1.5400 area.
Trading recommendations:
Entry now
Take profit at 1.5330
Stop loss at 1.5175
The material has been provided by InstaForex Company - www.instaforex.com