General overview for 19/10/2015 08:00 CET
The pair is trading around the weekly pivot at the level of 1.2935 and just under the intraday resistance at the level of 1.2956. To continue with a bullish wave progression, the price must break of the golden channel and head higher to the border of the neutral zone at the level of 1.3070.
Support/Resistance:
1.2831 - Intraday Support
1.2856 - Technical Support
1.2935 - Weekly Pivot
1.2956 - Intraday Resistance
1.3036 - WR1
1.3070 - Technical Resistance
Trading recommendations:
Day traders should consider opening buy orders only if the level of 1.2956 is clearly violated. SL should be set tight (15-20 pips) and TP should be placed at the level of 1.3036.
