analytics6082816f43033.jpg

Price is reacting above 1st support, which is in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support. We could potentially see further upside above 1st support towards 1st resistance, which is in line with our 100% Fibonacci extension and horizontal swing high resistance. Stochastics has also just bounced from the 15.02 support level where it has reacted from before.

Trading Recommendation

Entry: 1.19890

Reason for Entry:

61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback support

Take Profit: 1.20695

Reason for Take Profit:

100% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.19426

Reason for Stop Loss:

161.8% Fibonacci extension and horizontal swing low suppor

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.