General overview for 27/10/2014 18:20 CET
The corrective wave development to the upside look like completed and any breakout below the intraday support at the level of 136.48 is the first confirmation of a bearish bias. There is however a slight probability that the market might go a little bit higher and breakout above the intraday resistance at the level of 137.24, but it should be capped at the previous supply zone between the levels of 137.80 and 137.93.
Support/Resistance:
138.11 - WR1
137.80 - 137.93 - Supply Zone
137.24 - Intraday Resistance
136.66 - Weekly Pivot
136.48 - Intraday Support
136.11 - WS1
Trading recommendations:
Daytraders should consider opening sell orders from the current price levels with SL above the level of 137.24 and TP at the level of 135.20.
