We are seeing fractal support at 0.7350 (strong graphical support + fibonacci retracement + fibonacci projection) and it lines up well with the bounce we're seeing on our stochastics. This gives us a good conviction of price making a rise to 0.7430. We keep a tight stop loss of 0.7300 so we don't risk too much in case price moves against us.
Trading Recommendations :
Buy now and above 0.7350
Take profit at 0.7430
Stop loss at 0.7300
The material has been provided by InstaForex Company - www.instaforex.com