General overview for 22/12/2015 09:00 CET
The recent upswing looks quite corrective and the whole structure can evolve into a more complex corrective cycle. Any kind of a breakout higher above the level of 132.45 might lead to more gains in this pair as the wave XX brown might develop. 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
132.45 - 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 132.45 and TP at the level of 131.20.
