General overview for 27/04/2015 08:15 CET
The golden trend line is still providing dynamic resistance for the price and only an impulsive break out higher will be considered bullish (short-term). Nevertheless, the market hasn't completed wave (c) blue to the downside, so the mentioned bullish break out might be just a part of wave b green and then market should reverse. The price is still trying to complete wave 4 green to the downside as a part of a larger degree corrective cycle.
Support/Resistance:
1.2085 - WS1
1.2102 - Intraday Support
1.2187 - Intraday Resistance
1.2193 - Weekly Pivot
1.2285 - WR1
Trading recommendations:
Daytraders should consider opening buy orders only if the golden trend line is clearly broken, with entry at the level of 1.2231, SL at the level of 1.2187 and TP at the level of 1.2285.
