Technical Outlook and Chart Setups:
Overall structure, as depicted above, remains constructive for bulls. Prices have just stalled ahead of the 0.786 retracement of the AB boundary shown above. The region of 104.50 and 105.00 is support and 106.50 is intermediary resistance. A push through 106.50 shall enable prices to move towards 109.20/30 and 110.00 in the sessions to come.
Trading Recommendations:
Bought around 106.00 earier, stop at 104.50, targetting at 109.20/30 and 110.00.
Best regards.
The material has been provided by Instaforex Company - instaforex.com
