General overview for 30/08/2016:
The top for the wave 3 looks to be in place as the market has made a possible double top formation at the level of 1.3045. This means the recent rally might be either wave 3 of the bullish progression or wave c purple of the more complex and time-consuming corrective cycle of a higher degree. Any violation of the intraday support at the level of 1.2965 will invalidate the impulsive bullish scenario.
Support/Resistance:
1.2777 - WS2
1.2831 - Wave 2/b Bottom
1.2907 - WS1
1.2958 - Weekly Pivot
1.2965 - Intraday Support
1.3032 - 61%Fibo
1.3088 - WR1
1.3139 - WR2
Trading recommendations:
All buy orders recommended previous week should now move their SL to the level of 1.,2958 and leave TP still open.
