Overview
In the 4H chart, today's closing below the resistance level of 181.00 gives the price an opportunity for a new bearish trend. As shown here, the price might reverse its last week's bullish trend to start a bearish move by breaking the support level of 180.00 and closing below it. In that case, we may get another opportunity for more sell signals, and it opens the way towards 179.30 as the first target. Then the price should test the support level to continue its bearish move. But as long as the price stabilizes above the support level of 180.00, it cancels the first scenario.
Resistance and support levels: R3 (182.50), R2 (181.70), R1 (181.00), S1 (180.00), S2 (179.30), S3 (178.50).
The material has been provided by InstaForex Company - www.instaforex.com
