General overview for 25/11/2016:
The market has broken below the dashed blue trend line and now is trading below the weekly pivot at the level of 1.3497. In case of a further move to the downside, the intraday support is the key level for daytraders as any breakout below it will confirm the wave c (green) is in progress. The projected target zone for the wave c (green) is the demand zone between the levels of 1.3290 and 1.3312.
Support/Resistance:
1.3596 - WR1
1.3566 - Intraday Resistance
1.3497 - Weekly Pivot
1.3419 - WS1
1.3378 - Intraday Support
1.3308 - WS2
Trading recommendations:
The corrective upward wave progression is about to be completed, so this is why daytraders should consider opening only sell orders with tight SL and TP open for now.
