Technical Outlook and Chart /setups:
As depicted here, prices touched 1.4800 support and pulled back yesterday, leaving a doji candlestick pattern yesterday. This might suggest a change in the direction at least for short time. Therefore, it is recommended to book profits on short positions taken earlier at current levels (1.4847). Intermediary support stands unchanged at 1.4800 for now, followed by 1.4700, and 1.4600 respectively. Resistance would begin from the dropping wedge line at 1.5050/60, 1.5150/60 and ahead. Short-term aggressive traders can be looking to buy at current levels.
Trading Recommendations:
1. Book profits on short positions taken earlier.
2. Aggressive traders can enter buying now, stop is at 1.4775. Target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via GbpChf Tests 1.4800. Booking Profits On Shorts Recommended . Thanks for your support on GbpChf Tests 1.4800. Booking Profits On Shorts Recommended
No comments:
Post a Comment