General overview for 07/04/2014 10:00 CET
The downside wave progression has not been finished yet and the price is below the key technical level now. Only a breakout higher above this level would indicate a more deeper retrace in this pair. The 61%Fibo level has been violated and next level is being expected to be tested.
Support/Resistance:
144.10 - WR2
143.47 - Swing High
142.56 - WR2
141.90 - Weekly Pivot
141.78 - 141.96 - Key Level
141.65 - Intraday Resistance
141.11 - Intraday Support
140.70 - 78%Fibo
Trading recommendations:
The swing traders should keep the short positions open and wait if the level of 141.96 will be tested.
The daytraders should watch the key level here for a possible short opportunity and open sell orders at the level of 141.65 with SL above the level of 141.97 and TP at the level of 140.70.
