General overview for 09/10/2015 09:30 CET
The current downward wave development is about to terminate as the whole move downward looks completed. The suggested wave alternative count where wave (iv) green should travel a little higher in order to complete the corrective cycle, which was invalidated. Now only the main count is valid. One small sub-wave is needed to complete wave (v) green of wave (c) blue and the projected target is around the level of 1.2919.
Support/Resistance:
1.3229 - Weekly Pivot
1.3217 - Green Impulsive Count Invalidation Level
1.3133 - Intraday Resistance
1.3062 - Intraday Resistance
1.3000 - WS1
1.2970 - Intraday Support
Trading recommendations:
Swing traders should consider opening buy orders from the current levels with SL below the level of 1.2900 and TP open for now.
The material has been provided by InstaForex Company - www.instaforex.com