General overview for 14/11/2014 10:10 CET
The corrective cycle in black wave ii has almost hit the least level of resistance and now it should turn down. Only a sustained breakout above the level of 1.1400 will be considered as bullish but there must be a continuation move to the upside that breaks out above the recent swing high and makes new highs. Otherwise, the breakout above the level of 1.1400 might be considered as a false breakout and price will turn down.
Support/Resistance:
1.1465 - Swing High
1.1426 - WR1
1.1400 - Intraday Resistance
1.1357 - Intraday Support
1.1343 - Weekly Pivot
1.1279 - Intraday Support
Trading recommendations:
Day traders should consider opening sell orders from the level of 1.1357 with SL above the level of 1.1401 and TP at the level of 1.1279.
