We have seen the expected corrective rally and a new impulsive decline to below 140.80 into the ideal target-zone between 139.29 - 139.83 as expected.
We were looking for a corrective rally to 142.73 This rally has overcome this target and has peaked at 143.00. We are now looking for a break below minor resistance at 142.44 and more importantly a break below support at 142.07 to confirm the decline to 140.80 on the way lower to the target-zone.
R3: 143.55
R2: 143.32
R1: 143.00
Pivot: 142.71
S1: 142.44
S2: 142.22
S3: 142.07
Trading recommendation:
We remain short from 143.95 with our stop at break-even.
The material has been provided by InstaForex Company - www.instaforex.com