General overview for 17/12/2015 09:30 CET
The main count has been invalidated and the alternative count is in play now. This alternative count indicates a possible impulsive wave progression from a low of 1.2850, which is about to complete. Currently, the market is in the corrective sub-cycle (wave 4 black) and there is one more wave to the upside missed ( wave 5 black) to complete the impulsive cycle. This last wave ( wave 5 purple) is the last one in a greater cycle progression. It might end the whole advance that started at the level of 0.9428.
Support/Resistance:
1.3926 - WR1
1.3847 - Intraday Resistance
1.3677 - Intraday Support
1.3646 - Weekly Pivot
Trading recommendations:
Day traders should consider buying on dips in this market with SL below the level of 1.3677 and TP at the level of 1.3928.
