General overview for 17/10/2013 11:00 CET
Yesterday's target has been hit as it is shown in the chart, and now the price is trying to rebound in the impulsive wave progression form the level of 133.34.
The grey rectangle zone is the main resistance now for this pair and the breakout above this zone is very bullish.
The golden trendline is still intact and provides support.
Support/Resistance:
134.29 - WR1
133.82 - 133.98 - DEMAND BREAKTHROUGH ZONE
133.34 - Intraday Support
132.72 - Weekly Pivot
Trading recommendations:
As long as the golden trendline holds long positions should be in play with entry at the 133.34 level with SL below 133.33 and potential TP1 at 133.98 and TP2 134.29.
