General overview for 16/09/2016:
The top for the wave b seems to be in place at the level of 1.3235. The first wave to the downside has been labeled as the wave -a-, so if the count is correct, then the market should impulsively fall towards the next support at the level of 1.3030 during the next few days. The growing bearish divergence between the price and momentum oscillator supports the view.
Support/Resistance:
1.3253 - Intraday Resistance
1.3223 - WR2
1.3155 - WR1
1.3124 - Intraday Support
1.3077 - 78%Fibo
1.3031 - Intraday Support
1.2994 - Weekly Pivot
1.2935 - WS1
Trading recommendations:
Day traders are recommended to refrain from trading for now and wait for a better trading setup to occur shortly.
