General overview for 01/07/2015 09:15 CET
As anticipated yesterday, the violation of the level of 1.2421 was a bullish sign and market went as high as the level of 1.2510. Moreover, the alternative wave count looks completed now because the last wave up might be considered the wave Z in triple zig-zag pattern (which is very common for wave B). Nevertheless, the bullish impulsive count is valid as long as the intraday support at the level of 1.2421 is violated.
Support/Resistance:
1.2128 - WS2
1.2245 - WS1
1.2332 - Weekly Pivot
1.2421 - Intraday Support
1.2447 - WR1
1.2537 - WR2
Trading recommendations:
The near-term bias is still bullish and daytraders should consider opening buy orders as long as the level of 1.2421 is violated.
