General overview for 11/10/2016:
The golden trend line resistance has been broken, but the internal wave progression does not look impulsive. This indicates a possible wave (b) in progress. When this wave is finished, one more wave down should develop in order to complete the corrective cycle. Please be aware that the overall corrective structure in wave (iv) does not look completed and might evolve into a more complex and time-consuming pattern.
Support/Resistance:
116.72 - WR1
115.73 - Intraday Resistance
115.19 - Weekly Pivot
115.03 - Intraday Support
114.05 - WS1
112.50 - WS2
Trading recommendations:
Day traders should consider opening buy orders from current market levels with tight SL and TP set at the level of 116.72.
