The bottom for the wave iii or c has now been established, and further upward price action is anticipated now. Please notice that any breakout above the intraday resistance at the level of 1.2979 will invalidate the impulsive count and make the corrective cycle more complex and time-consuming. A breakout above the dashed blue trend line is needed to confirm the temporary reversal.
Support/Resistance:
1.3175 – WR1
1.3138 – Intraday Resistance
1.3118 – Wave (i) Top
1.3089 – Intraday Resistance
1.3002 – Weekly Pivot
1.2978 – Intraday Resistance
1.2918 – WS1
1.2875 – Technical Support
Trading recommendations:
All buy orders from last week should be closed with profit, and traders should consider opening sell orders with SL above the level of 1.3139.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
General overview for 15/07/2016:
The bottom for the wave iii or c has now been established, and further upward price action is anticipated now. Please notice that any breakout above the intraday resistance at the level of 1.2979 will invalidate the impulsive count and make the corrective cycle more complex and time-consuming. A breakout above the dashed blue trend line is needed to confirm the temporary reversal.
Support/Resistance:
1.3175 – WR1
1.3138 – Intraday Resistance
1.3118 – Wave (i) Top
1.3089 – Intraday Resistance
1.3002 – Weekly Pivot
1.2978 – Intraday Resistance
1.2918 – WS1
1.2875 – Technical Support
Trading recommendations:
All buy orders from last week should be closed with profit, and traders should consider opening sell orders with SL above the level of 1.3139.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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