General overview for 08/06/2015 08:30 CET
As anticipated last Friday, the market went down to develop another wave, labeled as wave c green on the chart. Currently, the market is testing the weekly pivot zone at the level of 138.71 and this level might be a target for the wave c green. The second target might be inside the supply breakthrough zone between the levels of 138.03 - 138.32. Please notice that the market is still trading inside of a bullish zone and any breakout higher would mean that labeling will be changed to alternative.
Support/Resistance:
141.05 - Swing High
139.83 - Intraday Resistance
138.88 - Intraday Support
138.71 - Weekly Pivot
138.03 - 138.32 - Supply Breakthrough Zone
136.95 - Technical Support
Trading recommendations:
Daytraders should consider opening sell orders from current price levels with SL above the level of 139.83 and TP at the level of 138.71.
