General overview for 15/08/2016:
The intraday support at the level of 1.2924 is now the bottom for the wave XX. If the count is correct, then the market should rebound to the upside from here. On the other hand, if this level is clearly violated, then the corrective cycle in wave XX will get more complex and time-consuming. The key level to the upside is the intraday resistance at the level of 1.2989.
Support/Resistant:
1.29.24 - Intraday Support
1.2989 - Intraday Resistance
1.3006 - Weekly Pivot
1.3091 - WR1
Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL below the level of 1.2924 and TP at the level of 1.2989.
