General overview for 10/04/2014 11:42 CET
The impulsive cycle had extended wave iii black as per yesterday's alternate labeling and it has been finished at the level of 1.0857. The price now is trying to break higher above the acceleration channel (thick blue lines) and if the level of 1.0867 holds, then the upside correction will take place. The target for the correction is at the level of 1.0935.
Support/Resistance:
1.0811 - WS3
1.0857 - Swing Low
1.0867 - Intraday Support
1.0882 - WS2
1.0909 - Technical Resistance
1.0921 - WS1
1.0935 - Target for corrective wave
Trading recommendations:
Sell stop orders should be opened from the level of 1.0935 with SL above the level of 1.0956 and TP at the level of 1.0811.
