General overview for 29/06/2016:
Currently, the market is developing the internal corrective cycle in wave (ii), and sub-waves a and b are now completed. There is one more wave down needed to terminate the corrective cycle and resume the uptrend. The most important level is intraday support at 1.2858, and any violation of the 1.2677 level will invalidate the black bullish impulsive count.
Support/Resistance:
1.3097 - Intraday Resistance
1.2960 - Weekly Pivot
1.2900 - Wave iv Low
1.2858 - Intraday Support
1.2800 - Wave i Top | Invalidation Level |
Trading recommendations:
All buy orders from the last week might be kept open as long as the level of 1.2800 is not clearly violated. New buy orders should be added between the levels of 1.2900 - 1.3097.
