General overview for 26/09/2013 16:00 CET
The count has been slightly changed with wave W black low being now a little lower after bigger wave (iv) correction.
Currently, the price is still in overlapping corrective mode of wave X black.
Last wave c to the upside is missing to complete Regular Flat Correction wave Y brown of X black.
Then more downside is expected to complete wave Y black of the whole corrective cycle wave 4 green.
When the corrective cycle is done, new highs in impulsive wave 5 green are anticipated.
Support/Resistance:
134.72 - 134.93 - SUPPLY ZONE
133.98 - Intraday Resistance
133.6 - Weekly Pivot
132.77 - WS1
132.62 - Techncal Support
Trading recommendations:
Bias is to the downside to complete wave Y black of wave 4 green so short positions should be in play from the level of 133.98 with SL just above this level. Potential TP levels are 132.77 and 131.75.
