Price rose as expected right above our buying entry level and hit our profit target perfectly bagging us good profit. We now look to sell on strength below 0.7340 major resistance (Fibonacci retracement, horizontal resistance) for a drop to at least 0.7271.
RSI (21) is approaching resistance level at 70%.
Sell below 0.7340. Stop loss is at 0.7400. Take profit is at 0.7271.
The material has been provided by InstaForex Company - www.instaforex.com