Trading Conditions
Products
Tools
Wave summary:
The failure to rally above minor resistance at 116.71 has prolong the consolidation in red wave ii and we need to allow for a decline closer to 115.42 before red wave ii finally is complete and red wave iii will be ready to take over for a rally towards 120.02.
To confirm that red wave ii is complete a break above minor resistance at 116.71 and more importantly a break above resistance at 117.15 will be needed.
Trading recommendation:
We are still looking for a buying opportunity at 115.55 with stop placed at 114.40 or upon a break above 117.15.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.