Not much development on this pair has occurred since yesterday’s analysis. So, let me remind again the current situation. Any breakout below the level of 1.0711 confirms the main bearish view and lower levels should be expected then. Nevertheless, any breakout higher above the key level invalidates the main bearish impulsive count. Please notice, that the medium outlook remains bearish and only a sustained violation of the level of 1.0794 invalidates this view.
Support/Resistance:
1.0794 – Swing High
1.0775 – WR1
1.0765 – Intraday Resistance
1.0741 – Weekly Pivot
1.0726 – Intraday Support
1.0695 – Techncial Support
Trading recommendations:
Swing and day traders should keep the short positions open with SL above the level of 1.0794 and TP below the level of 1.0625
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 22/07/2014 08:45 CET
Not much development on this pair has occurred since yesterday’s analysis. So, let me remind again the current situation. Any breakout below the level of 1.0711 confirms the main bearish view and lower levels should be expected then. Nevertheless, any breakout higher above the key level invalidates the main bearish impulsive count. Please notice, that the medium outlook remains bearish and only a sustained violation of the level of 1.0794 invalidates this view.
Support/Resistance:
1.0794 – Swing High
1.0775 – WR1
1.0765 – Intraday Resistance
1.0741 – Weekly Pivot
1.0726 – Intraday Support
1.0695 – Techncial Support
Trading recommendations:
Swing and day traders should keep the short positions open with SL above the level of 1.0794 and TP below the level of 1.0625
The material has been provided by InstaForex Company – www.instaforex.com
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