General overview for 20/12/2016:
The yesterday intraday resistance at the level of 1.3415 was violated and now it will act as an intraday support for the price. This would mean the bottom for the wave (ii) (green) might be in place at the level of 1.3322, but the bearish divergence indicates the intraday correction is going to occur shortly. Nevertheless, the next intraday resistance is seen at 78% Fibo at the level of 1.3479.
Support/Resistance:
1.3503 - WR1
1.3479 - Intraday Resistance
1.3322 - Intraday Support
1.3292 - Weekly Pivot
1.3269 - Intraday Support
1.3167 - WS1
Trading recommendations:
The buy orders should be still kept open. TP should be set at the level of 1.3479.
