InstaForex

Support/Resistance of the Day - GNP/USD (30 May2011)

Monday, May 30, 2011


H4 Chart

R3 1.6598
R2 1.6547
R1 1.6515
Pivot 1.6465
S1 1.6414
S2 1.6382
S3 1.6332

GU price is increasing 45 degree after it broke the top of flag and formed a head a shoulder chart pattern last week. The uptrend seem slow down today becaue it met a strong resistance line at R1 level and the price retrace backward after it touch this point. This is not a good chance to enter any trade right now untill it escape from R1 level (continue uptrend) or Pivot level (turn downtrend).

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