Technical Outlook and Chart Setups:
Structure remains similar. Bulls are poised to print higher levels in the coming sessions. Resistance remains to be cleared at 111.00 level. Immediate support on a daily chart remains at 106.00, followed by 105.00 and lower. It is recommended to continue holding long positions from yesterday and further buy on dips. Only a break of 106.00 should be a concern for the bulls now. Looking higher from here on.
Trading Recommendations:
Hold on to long positions taken earlier. Stop is at 106.00. Target is at 111.00 plus.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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