General overview for 25/09/2013 09:30 CET
This is a slightly changed count with higher degree waves on it.
The bias is to the upside and the price must break out of the intraday range to confirm this view.
The key level to the upside is 1.0317 technical resistance.
Please notice that I expect one more wave to the downside to complete the corrective cycle. This wave cannot go below the Key Level, otherwise WS1 might be tested.
Support/Resistance:
1.0130 - WS2
1.0180 - Swing Low
1.0226 - WS2
1.0261 - Intraday Support
1.0279 - Weekly Pivot
1.0273 - 1.0309 - RANGE ZONE
1.0317 - Technical Resistance
1.0331- 1.0348 - SUPPLY ZONE
Trading recommendations:
For a swing trade: buying the range area in anticipation of wave iii to the upside is the way to trade this wave development.
