The price has shot up and reached our profit target perfectly. Now we turn bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, and recent swing low support).
Stochastic (34,5,3) observes resistance at the 92% level.
Sell below 121.09. Stop loss is at 121.86. Take profit is at 119.65.
The material has been provided by InstaForex Company - www.instaforex.com