The market is still trading inside a trading range between the levels of 130.11 and 128.82. Only a clear breakout in either direction would give traders more clues about a possible further price movements. So, the price is making any impulsive sub-waves neither to the upside nor to the downside as the price actions are very overlapping and full of whipsaws. We are waiting for a clear breakout to clear the situation.
Support/Resistance:
126.07 – Swing Low
126.33 – WS2
127.86 – WS1
128.82 – Intraday Support
128.97 – Weekly Pivot
130.10 – Intraday Resistance
130.51 – WR1
Trading recommendations:
Daytraders still should consider to open sell orders only if the intraday support level is clearly broken, with entry at the level of 128.80, SL at the level of 129.10 and TP at the level of 1.2786 (3:1 R/R trade).
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 28/04/2015 06:10 CET
The market is still trading inside a trading range between the levels of 130.11 and 128.82. Only a clear breakout in either direction would give traders more clues about a possible further price movements. So, the price is making any impulsive sub-waves neither to the upside nor to the downside as the price actions are very overlapping and full of whipsaws. We are waiting for a clear breakout to clear the situation.
Support/Resistance:
126.07 – Swing Low
126.33 – WS2
127.86 – WS1
128.82 – Intraday Support
128.97 – Weekly Pivot
130.10 – Intraday Resistance
130.51 – WR1
Trading recommendations:
Daytraders still should consider to open sell orders only if the intraday support level is clearly broken, with entry at the level of 128.80, SL at the level of 129.10 and TP at the level of 1.2786 (3:1 R/R trade).
The material has been provided by InstaForex Company – www.instaforex.com
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