Technical Outlook and Chart Setups:
The overall structure still remains unchanged as the single currency pair remains subdued/sideways just above 1.4800 level. Smaller timeframes have started showing a possible reversal or at least pullback towards 1.5200 in the short term. Therefore, it is recommended to stay long and buy intraday dips as close to 1.4800 level. Lower support levels are 1.4700 followed by 1.4600, while short-term resistance is at 1.5050, followed by 1.5150/60. 1.4800 remains key, looking higher for now.
Trading Recommendations:
Stay long from positions taken earlier, buy intraday dips, stop below 1.4800, and target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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