General overview for 25/02/2014 08:00 CET
Not much has happened since yesterday's analysis but this pair has been making more complex correction in wave b purple that looks like a triangle formation now. There is one more wave to the downside left, wave c purple, and when this wave is completed the overall correction will be finished as well. The targets are on the level of 140.06 and a little lover at the level of 139.83. If the golden line holds and provide the support, then the upside trend should resume. Invalidation line for this intraday blue count is at the level of 139.17
Support/Resistance:
141.10 - 141.25 - Supply zone
141.02 - Intraday resistance
140.53 - Weekly pivot
140.30 - Intraday support
140.06 - 23%Fibo
139.83 - WS1
139.17 - Invalidation line
Trading recommendations:
Sell stop orders should be placed at the level of 140.70 with SL above the level of 141.03 and TP at the levels of 140.06 and 139.83.
