General overview for 29/07/2016:
The wave b is still in progress and it might evolve into even more complex and time consuming structure. The 61% Fibo at the level of 116.93 is the most important level for bears as any break out higher will directly expose the recent swing top. Otherwise the correction in the wave b green might evolve into more complex and time-consuming.
Support/Resistance:
119.22 - WR2
118.38 - Wave b Top
117.63 - WR1
117.12 - Intraday Resistance
116.88 - Weekly Pivot
115.34 - WS1
114.81 - Technical Support
114.57 - WS2
113.93 - Intraday Support
113.73 - 61% Fibo
113.01 - WS3
Trading recommendations:
All sell orders from last week should now be closed as the TP at the level of 115.48 has been hit. Please note that the next TP for the sell orders is at the level of 113.73.
