General overview for 04/12/2015 09:00 CET
The current price action confirms that a possible pattern, which is unfolding now, looks like a triangle. An upward spike above the intraday resistance at the level of 1.3433 and then reversal is very possible after the important news release expected later today.
Support/Resistance:
1.3447 - WR1
1.3433 - Intraday Resistance
1.3362 - Weekly Pivot
1.3290 - WS1
1.3279 - Intraday Support
Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur, because current risk to reward ratio is too big for any trade. Patience is needed.
