General overview for 28/01/2015 14:35 CET
The impulsive wave progression might have been finished with an ending diagonal structure in the last wave v black, and now the market might continue to go lower. Nevertheless, any golden trend line breakout and a new high above the level of 1.2498 invalidate this point of view and make the next weekly resistance at the level of 1.2698 in view.
Support/Resistance:
1.2698 - WR1
1.2498 - Swing High|Intraday Resistance|
1.2375 - Intraday Support
1.2320 - Weekly Pivot
1.2309 - Intraday Support
1.2181 - WS1
Trading recommendations:
After the golden trend line breakout daytraders might consider opening sell orders with SL above the level of 1.2501 and TP at the level of 1.2310.
