Technical Outlook and Chart Setups:
The single currency pair has retraced to 1.5 level since yesterday. Implications are around 1.49-1.4950 levels, these ones would be the optimum buy levels. Intermediary support remains unchanged at 1.48 level, while resistance is just above 1.53 level. It is recommended to start buying at these levels (aggressive trading approach) and add further long positions on dips towards 1.4950 from here on. We are retracing the bull run between 1.48 and 1.51 at the moment. Higher implications would be 1.52 and 1.53 at least. Buy on dips for now.
Trading Recommendations:
Buy around 1.4950 level. Stop at 1.48. Target Open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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