General overview for 10/12/2015 09:15 CET:
The bigger time frame outlook with the swing high at the level of 1.3621 suggests a further decline might happen any time now. Nevertheless, the confirmation of the top in place will be presented when the market breaks below the level of 1.3379. Until that happens, the market might be still range bounded as investors will be closing the buy orders at the best prices they can get.
Support/Resistance:
1.3621 - Swing High| Intraday Resistance|
1.3555 - WR3
1.3517 - Technical Support |Intraday Support|
Trading recommendations:
Yesterday sell orders had hit the projected TP level and were profitable.
Today, 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.
