The market is currently trading in the range zone and traders should wait for a breakout in either direction. Two levels are here to keep an eye on them. To the upside the most important intraday level is in the 142.20 – 142.30 zone and a breakout above this level is bullish. To the downside the most important level is 141.33 and a breakout below this level means the golden trendline will be tested and possibly broken. Moreover, the impulsive green count will be invalidated if the black invalidation line is violated as well and alternate count will be in play.
Support/Resistance:
142.52 – WR1
142.20 – 142.30 – Key Level
141.95 – Intraday Resistance
141.45 – Weekly Pivot
141.33 – Intraday Support
140.38 – Invalidation Line
Trading recommendations:
Sell stop orders should be opened from the level of 141.29 with SL above the level of 141.95 and TP at the level 140.33.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 18/03/2014 08:30 CET
The market is currently trading in the range zone and traders should wait for a breakout in either direction. Two levels are here to keep an eye on them. To the upside the most important intraday level is in the 142.20 – 142.30 zone and a breakout above this level is bullish. To the downside the most important level is 141.33 and a breakout below this level means the golden trendline will be tested and possibly broken. Moreover, the impulsive green count will be invalidated if the black invalidation line is violated as well and alternate count will be in play.
Support/Resistance:
142.52 – WR1
142.20 – 142.30 – Key Level
141.95 – Intraday Resistance
141.45 – Weekly Pivot
141.33 – Intraday Support
140.38 – Invalidation Line
Trading recommendations:
Sell stop orders should be opened from the level of 141.29 with SL above the level of 141.95 and TP at the level 140.33.
The material has been provided by InstaForex Company – www.instaforex.com
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