General overview for 29/12/2015 12:40 CET
The wave b purple looks completed and now further downside development might occur. A breakout below the weekly pivot at the level of 131.96 will be the first confirmation that wave c in progress. Any breakout above the level of 133.76 will invalidate the idea of a complex corrective cycle, so this level is worth keeping an eye on.
Support/Resistance:
129.87 - WS3
130.68 - WS2
131.02 - Technical Support
131.14 - WS1
131.48 - Intraday Support
131.96 - Weekly Pivot
132.44 - WR1
132.77 - Intraday Resistance
133.26 - WR2
133.74 - WR3
Trading recommendations:
Day traders should consider placing sell orders from current market levels with SL above the level of 132.77 and TP at the level of 131.48 and below.
