General overview for 10/02/2015 11:35 CET
The momentum in this market is almost gone as it is shown by the RSI indicator that is currently forming a triangle. The pair is still trading inside the daily range, between the levels of 133.63 - 135.36. Only a breakout higher above the level of 135.36 would invalidate the alternative scenario and put the level of 137.64 in view for test. Otherwise, the bias looks bearish and one more wave to the downside is needed to complete the impulsive cycle.
Support/Resistance:
136.74 - Key Resistance
137.27 - WR2
136.15 - WR1
135.36 - Intraday Resistance
134.22 - Weekly Pivot
133.63 - Intrday Support
133.11 - WS1
132.32 - Key Level To The Downside
Trading recommendations:
Sell orders advised yesterday should be still kept open. SL should be placed above the level of 135.36 and open TP level for now.
The material has been provided by InstaForex Company - www.instaforex.com
