General overview for 17/04/2015 10:20 CET
After testing the channel line from the downside the market rebounded strongly to the upside. Currently, the up move has not been completed yet. The potential targets for the wave c purple are at the levels of 1.28.77 and 129.47. Only a strong breakout below the demand zone would invalidate the bullish scenario.
Support/Resistance:
127.68 - 127.86 - Demand Zone
128.35 - Weekly Pivot
128.58 - 128.77 - Supply Zone
129.47 - WR1
Trading recommendations:
Daytraders should consider opening buy orders from the current levels and set the SL below the level of 127.68 and TP at the level of 128.77 with a possible extension upwards to the level of 129.47.
