There is the last wave to the downside missing before rebound should happen in this market. The target for wave (v) blue is at the level of 137.11 or a little bit lower at the level of 137.03. From that price area an intraday rebound is expected that should effectively test golden trend line or the technical resistance zone at the level of 138.25. If this level is broken, then the weekly pivot might be tested.
Support/Resistance:
137.11 – Target level for wave (v) blue
137.49 – Intraday Support
138.25 – Intraday Resistance
138.52 – Weekly Pivot
Trading recommendations:
For intraday scalpers: the level of 137.49 is the good level to open sell positions with SL above the level of 138.01 and TP at the level of 137.11.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 03/02/2014 11:30 CET
There is the last wave to the downside missing before rebound should happen in this market. The target for wave (v) blue is at the level of 137.11 or a little bit lower at the level of 137.03. From that price area an intraday rebound is expected that should effectively test golden trend line or the technical resistance zone at the level of 138.25. If this level is broken, then the weekly pivot might be tested.
Support/Resistance:
137.11 – Target level for wave (v) blue
137.49 – Intraday Support
138.25 – Intraday Resistance
138.52 – Weekly Pivot
Trading recommendations:
For intraday scalpers: the level of 137.49 is the good level to open sell positions with SL above the level of 138.01 and TP at the level of 137.11.
The material has been provided by InstaForex Company – www.instaforex.com
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