General overview for 26/09/2013 15:30 CET
Not much of a progress in this dull market with complex and time consuming corrective waves is observed. Nevertheless, some first indication of a very impulsive setup is starting to emerge.
The current labeling is a sequence of 1-2,i-ii and (i)-(ii) and this is the reason of the bullishness.
This main count is invalidated if the level of Weekly Pivot is broken.
The alternate count points out a possibility of deeper correction before wave 3 violet will happen.
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
1.0285 - Intraday Support
1.0317 - Technical Resistance
1.0331- 1.0348 - SUPPLY ZONE
Trading recommendations:
A breakout strategy should be in play and as the bias is to the upside, long spositions are in favour as long as the price stays above 1.0284 level.
