General overview for 21/12/2015 08:10 CET
A corrective cycle in wave 2 blue looks completed, but the confirmation that a low is in place comes with violation of intraday resistance at 132.20. Any kind of a breakout higher like this might lead to more gains in this pair. Please notice the invalidation line or the whole structure is seen at the level of 129.65.
Support/Resistance:
134.82 - WR2
134.57 - Swing High
133.11 - WR1
132.20 - Intraday Resistance
132.06 - Weekly Pivot
131.04 - Intraday Support
130.68 - WS1
129.65 - Invalidation Level
Trading recommendations:
Day traders should consider placing sell orders from current market levels with SL above the level of 132.21 and TP at the level of 131.20.
