General overview for 27/11/2014 09:40 CET
The wave progression is getting more and more consolidated as there is no new low made so far below the level of 1.1190. The price have been making recently a lot of a false breakouts to the upside. That is why my bias is still to the downside as long as the price is trading inside the corrective golden channel. Only a sustained breakout above the level of 1.1368 would change the outlook for more bullish one.
Support/Resistance:
1.1437 - WR2
1.1368 - Key Level
1.1326 - WR1
1.1269 - Intraday Resistance
1.1258 - Weekly Pivot
1.1227 - Intraday Support
1.1224 - WS1
Trading recommendations:
Yesterday's classical breakout trade using sell stop order from the level of 1.1230 should be still kept open. SL above the level of 1.1276 and TP at the level of 1.1190.
