Technical Outlook and Chart Setups:
As expected earlier, and depicted above, prices bounced back right after testing 1.4820 which is resistance that had turned into support now. It is also quite amazing to note that support trend line remains intact and prices bounce just shy of it. We expect prices to rally towards the D extension target at 1.5200 levels at least. Please consider all dips as buy for the single currency pair till 1.4800 is intact.
Trade Recommendations:
Buy around 1.4820/50, Stop at 1.4750, targetting at 1.5200 at least.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
