General overview for 23/09/2016:
The market has made the bottom of the wave (b) at the level of 112.06 and now the wave (c) is in progress. The recent break out above the intraday resistance at the level of 112.53 (now support) means the bulls have regained their strength. Nevertheless, there is still possibility that the overall structure for this corrective wave might be in form of (a)(b)(c)(d)(e) triangle that will constitute the bigger time frame wave B.
Support/Resistance:
112.06 - Intraday support
112.36 - WS2
112.53 - Intraday Support
112.92 - WS1
113.50 - Intraday Resistance
114.00 - Golden Trend Line Support
114.38 - Intraday Resistance
114.49 - Weekly Pivot
115.04 - WR1
116.36 - Local Swing High
Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL just below the level of 112.06 and TP open for now.
