Technical Outlook and Chart Setups:
The single currency pair has raised past 138.00 levels and approaching the prescribed targets of 139.00 and 142.00 respectively. It is recommended to buy intraday dips. Immediate support is at 134/135.00 levels on daily chart view, followed by 131.00 and lower; while resistance is at 139.00 and 142.00 respectively. A weekly chart resistance is just around 142/143 levels and the bulls would surely want to target that before a meaningful pullback could be underway. Looking to buy intraday dips from here on. This could possibly be the final rally before a huge correction. 142.00 levels would be watched closely.
Trade Recommendations:
Buy intraday dips. Target 139.00 and 142.00.
Good Luck !
The material has been provided by InstaForex Company - www.instaforex.com
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