General overview for 16/09/2015 08:10 CET
The first three waves down are completed labeled as wave (b) blue, but this wave might get more complex and time-consuming. Moreover, the market broke out of the black channel testing it from the downside. Mow it is trying to continue to move downwards. A breakout below the intraday support at the level of 135.00 is needed to confirm this scenario.
Support/Resistnace:
138.80 - WR1
137.09 - Intraday Resistnace (strong)
135.47 - Intraday Support
135.88 - Intraday Resistance (weak)
135.72 - Weekly Pivot
134.53 - WS1
Trading recommendations:
Yesterday's buy orders had not hit the anticipated TP level ( 30 pips miss), but overall it was a good, profitable trading idea. Due to the FED meeting later on tonight the traders should refrain from trading.
