Price bounced above our channel support as expected. We remain bullish above 113.00 for a further rise to 114.75.
We can see price crossing above the thin descending green line signalling a bullish recovery is approaching.
Stochastics (21,5,3) has made a bullish exit from its long descending resistance-turned-support line. It also displays bullish divergence vs price signalling a bullish move from here.
Trading Recommendations :
Buy above 113.00.
Stop loss 112.20.
Take profit 114.75.
The material has been provided by InstaForex Company - www.instaforex.com