Both yesterday’s targets was hit and the market is giving us some first indications of a possible top in place.
The first wave down has been done and now corrective cycle wave (ii) is developing. The first two waves a and b look to be done and there is one more wave missing to the upside to finish the corrective cycle UNLESS the cycle has been finished earlier.
Break below 141.00 as Intraday Support level makes Weekly Pivot prone to test. If Weekly Pivot is broken – this is the first weak top confirmation.
Support/Resistance:
142.15 – Swing High | Intrday Resistance |
141.74 – Intraday Resistance
141.00 – Intraday Support
140.70 – Weekly Pivot
Trading recommendations:
Sell the Intraday Resistance level at 141.74 with SL above 141.15 and TP at 141.00
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 11/12/2013 07:30 CET
Both yesterday’s targets was hit and the market is giving us some first indications of a possible top in place.
The first wave down has been done and now corrective cycle wave (ii) is developing. The first two waves a and b look to be done and there is one more wave missing to the upside to finish the corrective cycle UNLESS the cycle has been finished earlier.
Break below 141.00 as Intraday Support level makes Weekly Pivot prone to test. If Weekly Pivot is broken – this is the first weak top confirmation.
Support/Resistance:
142.15 – Swing High | Intrday Resistance |
141.74 – Intraday Resistance
141.00 – Intraday Support
140.70 – Weekly Pivot
Trading recommendations:
Sell the Intraday Resistance level at 141.74 with SL above 141.15 and TP at 141.00
The material has been provided by InstaForex Company – www.instaforex.com
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