General overview for 10/09/2014 11:25 CET
So far, the wave progression is expanding as anticipated but please notice the key level mustn't be violated in order to keep the impulsive count intact. The invalidation level for the red bullish impulsive count is at the level of 1.0941. Any breakout lower means the alternative count is in play and lower prices should be expected. Otherwise, if the level is not invalidated, there is one more wave to the upside in a red impulsive cycle to be made and the first projected target is at the level of 1.1063.
Support/Resistance:
1.1063 - WR3
1.1053 - Technical Resistance
1.1030 - Swing High
1.1002 - WR2
1.0956 - Intraday Support
1.0942 - Key Level|Invalidation Level
Trading recommendations:
Since the beginning of the week, the dips in this pair should be bought and this time is no different. Buy orders should be opened from the current price levels with the SL below the level of 1.0940 and TP at the level of 1.1062.
