General overview for 27/12/2016:
The corrective cycle in wave (iv) (green) continues as the last internal sub-wave unfolds. There is a very high chance that the triangle pattern is unfolding in this wave. The projected level for wave (iv) (green) to complete is the intraday support at the level of 1.3475 or weekly pivot support at the level of 1.3412. Please notice there is still one more wave to the upside missing - wave (v) (green). The projected target for this wave is at the level of 1.3588.
Support/Resistance:
1.3588 - Swing High
1.3557 - Intraday Resistance
1.3483 - Weekly Pivot
1.3475 - Intraday Support
1.3412 - WS1
1.3244 - WS2
Trading recommendations:
Due to the fact that there is still one more wave to the upside missing, only buy orders should be placed шт this market. TP should be set above the level of 1.3588.
