General overview for 02/02/2016:
The pair still trades inside a narrow range zone between the levels of 132.32 and 130.22. Moreover, first indications of a possible three-wave correction termination is visible as well, so any rally upwards that breaks a local high at the level of 132.31 will be labeled as wave three of the main impulsive structure.
Support/Resistance:
133.69 - WR1
132.27 - Local High|Intraday Resistance|
130.76 - Weekly Pivot
130.22 - Intraday Support
129.18 - WS1
Trading recommendations:
Day traders should refrain from trading and wait for another trading setup to occur.
