General overview for 04/01/2017:
The wave b (green) is now completed and the market is unfolding wave c (green) to the downside. The projected target levels for this wave are 50%Fibo at 1.3340 and 61%Fibo at 1.3278. When one of this levels is hit, then the uptrend should resume. The longer-term outlook remains bullish unless the technical support at the level of 1.03080 is clearly violated.
Support/Resistance:
1.3666 - WR2
1.3598 - Wave 1 Top
1.3539 - WR1
1.3470 - Weekly Pivot
1.3461 - Intraday Resistance
1.3387 - Intraday Resistance
1.3400 - 38%Fibo
1.3387 - Intraday Support
1.3340 - 50%Fibo
1.3278 - 61%Fibo
Trading recommendations:
Daytraders should still consider buying the dips in this market as the upward wave progression is uncompleted.
