According to the previous events, the price is still between the levels of 0.7777 and 0.7810. The descending movement will probably be lower than the 0.7850 level with the first target at 0.7800 and 0.8, then the trend will be going to test the weekly support 2 at the price of 0.7760. Buy deals are recommended above 0.7760 with targets at 0.7815 and 0.7850.
- Resistance: 0.7850 (sell below this level).
- Support: 0.7760 (buy above this level for retesting this level for a short period).
- Double bottom will set at the level of 0.7760 as a new double bottom for August 23, 2013.
- Double top will set at the level of 0.7866.
- Trend: dwonward (the trend still calls for a breaish market).
- Range: 110 pips (weekly).
Intraday technical levels:
Date & Time: 23/08/2013 11:27
Projected High: 0.7958
Breakout (Buy Stop): 0.7903
Strong Resistance (Sell Limit): 0.7873
Strong Support (Buy Limit): 0.7825
Breakout (Sell Stop): 0.7800
Projected Low: 0.7750
The material has been provided by InstaForex Company - www.instaforex.com