General overview for 22/03/2016:
The price has managed to break out of the triangle and currently it is testing the higher triangle line from above. The ongoing correction might be complex and time-consuming, but it cannot violate the 123.07 level. If it does, the alternative count will be in play, which suggests more downward wave progression towards the 122.06 level.
Support/Resistance:
127.98 - WR2
127.26 - Intraday Resistance
126.76 - WR1
125.39 - Weekly Pivot
125.58 - Intraday Resistance
124.90 - Intraday Support
124.82 - WS1
123.07 - Green Impulsive Cycle Invalidation Level
121.87 - WS2
Trading recommendations:
Day traders should buy on dips with SL below 123.07 and TP open for now.
