DESCRIPTION:
After this currency pair breached bellow the 1.3325 level, it has a new target at the 1.3250, but this pair faced by the 1.3275 acting as a significant support. If the pair can break bellow this level, the probability for this currency to continue going down its high enough.
Recommendation:
Sell stop (pending order) at 1.3268
Take profit 1 at 1.3261.
Take profit 2 at 1.3250 (optional).
Alternative:
Buy stop (pending order) at 1.3291.
Take profit 1 at 1.3298.
Take profit 2 at 1.3310 (optional).
Stop loss at 1.3280.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
http://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.