General overview for 21/12/2015 08:10 CET
A corrective cycle in wave 2 blue looks completed, but the confirmation that a low is in place comes with violation of intraday resistance at 132.20. Any kind of a breakout higher like this might lead to more gains in this pair. Please notice the invalidation line or the whole structure is seen at the level of 129.65.
Support/Resistance:
134.82 - WR2
134.57 - Swing High
133.11 - WR1
132.20 - Intraday Resistance
132.06 - Weekly Pivot
131.04 - Intraday Support
130.68 - WS1
129.65 - Invalidation Level
Trading recommendations:
Day traders should consider placing sell orders from current market levels with SL above the level of 132.21 and TP at the level of 131.20.
The material has been provided by InstaForex Company - www.instaforex.com