General overview for 28/10/2015 07:50 CET
The price is moving inside the black channel. It has already moved above the 61% Fibo level. The wave development is still impulsive, but the current internal structure indicates a possible corrective sub-cycle to be made soon as wave -iv- blue develops. The internal invalidation line is at the level of 1.3197 ( intraday support). The first projected target for wave -v- is seen at the level of 1.3316.
Support/Resistance:
1.3316 - WR1
1.3278 - Intraday Resistance
1.3197 - Intraday Support
1.3109 - Weekly Pivot
Trading recommendations:
The stop loss orders for all open buy orders should now be moved higher and set at the level of 1.3277. TP level is still at the level of 1.3316.
