General Overview for 28/11/2013 10:15 CET
Long-time anticipated last wave to the upside is done and fifth wave sequence has finished.
Some kind of the correction to the downside is expected now UNLESS wave 5 gets extended.
The Key Zone to the downside is now Supply Breakthrough Zone and this area must be broken to continiue the downside move.
Next dynamic support is uprising golden trend line - if broken, then old DEMAND zone is in view.
Support/Resistance:
1.0600 - WR1
1.0589 - Intraday Resistance
1.0572 - 1.0582 - Supply Breakthrough Zone
1.0559 - Intraday Support
1.0514 - 1.0522 - DEMAND ZONE
Trading Recommendations:
In anticipation of the downside correction short side of the market should be in play with entry @ 1.05800 and SL above 1.6000 and potential TP1 @ 1.0559 and TP2 @ 1.0522.
