Our profit target was reached perfectly yesterday. Today we turn bullish looking to buy on dips above 1.0510 support (Fibonacci retracement + Fibonacci projection) for a rise to 1.0650 (horizontal resistance + Fibonacci retracement).
RSI (34) has showed how price bounced off the 34% support level and we expect the same.
Strategy would be to take a 50% buy position now and one more if price drops to 1.0510.
Buy above 1.0510. Stop loss at 1.0430. Take profit at 1.0650.
The material has been provided by InstaForex Company - www.instaforex.com