General overview for 20/01/2017:
The pair has broken above the 50% Fibo at the level of 1.3308 and now the bulls are trying to test the next resistance at the level of 1.3377. There are still two scenarios in this market and so far none of them has been invalidated. Importantly, there is a bearish divergence between the price and the momentum oscillator, which supports the bearish outlook for today as well.
Support/Resistance:
1.2883 - WS2
1.2994 - WS1
1.3143 - Weekly Pivot
1.3259 - WR1
1.3284 - Intraday Support
1.3358 - IntradayResistance
1.3377 - 61%Fibo
1.3408 - WR2
Trading recommendations:
Day traders who set the TP at the level of 1.3308 should have gained profit by now. Those who are still waiting for TP2 at the level of 1.3377, should move the SL for this trade to the level of 1.3283.
