Technical outlook and chart setups:
4H chart shows that prices have been out of the cone consolidation for a while now, and may be looking to retrace, before inching towards 133.00 and higher levels. It is recommended to remain long and also look to buy at intraday/interday dips from here on. Resistance levels are 132.50 and 132.80; while support is at 129.25, followed by 128.00 and lower levels. At the moment, prices are looking to consolidate either sideways or a minor pullback towards the 130.50 levels before rallying further. Remain long for now.
Trading recommendations:
Remain long, stop at 129.00, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
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