General overview for November 27, 2013, 07:55 CET
Another new high has been made on this pair just as anticipated. The target zone on H4 chart is missed by mere 8 pips so far but there is a potential for more upside.
The blue channel line has been tested from the downside and now the price got rejected. To keep the bullish momentum, intraday support level at 137.71 must be hold and if it will, then the target zone is in view. The price might even go slighty higher to WR1 level and then reverse.
Please notice the bearish divergence is forming on AO oscilator so it is the first indication the immediate top for this rally might be near.
Support/Resistance:
138.86 - WR1
138.24 - 138.43 - Target Zone
137.71 - Intraday Support
137.10 - Intraday Support
136.47 - Weekly Pivot
Trading Recommendations:
The long side of the market should be in play as long as 137.71 in anticipation the Target Zozne is hit.
