Technical Outlook and Chart Setups:
Structure has remained unchanged since last 3 trading sessions. Smaller timeframes are hinting at a possible bullish reversal/pullback; bottom line is that 1.4800 level should hold. Therefore, it is recommended to buy intraday dips towards/as close to 1.4800/30 levels. Intermediary support as earlier remains at 1.4800 followed by 1.47 as a stronger one, while resistance remains lined up from 1.5050 through 1.5150 and 1.5200. If this rally materializes, the expected targets on higher sides are 1.5300. Looking higher for now.
Trading Recommendations:
Hold on to long positions taken earlier. Further add on dips, stop is at 1.4800, and target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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