General overview for 03/09/2015 08:00 CET
The market is waiting for tomorrow's NFP data release. The ranges are the same as yesterday with the current price trading inside the bearish zone. The complex corrective structure looks completed now, but the upside is limited by the weekly pivot at the level of 136.50. Moreover, the top of the wave B had been established at the level of 138.94 according to this count, and the market should now continue the downside wave development in order to complete the wave C black.
Support/Resistance:
134.67 - Intraday Support
135.00 - Technical Support
136.50 - Weekly Pivot
136.60 - Intraday Resistance
Trading recommendations:
Daytraders should consider opening buy orders only if the level of 136.60 is clearly violated (hourly candle close above the level) with SL just below the level of 135.23 and TP at the level of 137.60.
