General overview for 07/12/2015:
The corrective cycle continues in a tight range between the levels of 1.3433 and 1.3279. The pattern inside of the yellow neutral zone looks like a complex corrective structure. When it is completed, then another wave upward is anticipated.
Support/Resistance:
1.3433 - Technical Resistance
1.3232 - WR1
1.3362 - Weekly Pivot
1.3310 - WS1
1.3279 - Intraday Support
1.3240 - WS1
Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur, because current risk to reward a ratio is too big for any trades. Patience is needed.
