Technical Outlook and Chart Setups:
As it is depicted above, the 4 hour charts are suggesting a possible pullback or at least a relief rally. Immediate resistance is at 31.70 level, which was past support region. Above that, 32.75 is the next resistance. Until 32.75 is intact, it would be difficult to believe that the correction from 35.00 level is over. It is recommended to buy on dips at least for a short-term bounce through the 31.70/80 region. Support shall be strong around the 30.20/30.00 region.
Trading Recommendations:
Buy around 31.00 level. Stop at 30.00. Target Open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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