I have slightly changed the count and now it is overall a little more bullish: higher degree cycle wave 1 green and 2 green are now in place of lower degree waves (i) and (ii) green.
In bullish scenario first level to watch is 1.0335 and then 1.0350 because only a brekout above this levels will provide some clues to the further wave development.
The golden trendline must hold as well as to keep the momentum, otherwise Weekly Pivot level might be tested.
Support/Resistance:
1.0355 – Swing High
1.0345 – WR1
1.0338 – 1.0350 – SUPPLY ZONE
1.0335 – Intraday Resistance
1.0315 – Golden Trend Line Support
1.0307 – Weekly Pivot
1.0274 – WS1
Trading recommendations:
Long entries are prefferd for intraday scalps from current levels with SL below 1.0315 and potential TP at 1.0350.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 03/10/2013 10:00 CET
I have slightly changed the count and now it is overall a little more bullish: higher degree cycle wave 1 green and 2 green are now in place of lower degree waves (i) and (ii) green.
In bullish scenario first level to watch is 1.0335 and then 1.0350 because only a brekout above this levels will provide some clues to the further wave development.
The golden trendline must hold as well as to keep the momentum, otherwise Weekly Pivot level might be tested.
Support/Resistance:
1.0355 – Swing High
1.0345 – WR1
1.0338 – 1.0350 – SUPPLY ZONE
1.0335 – Intraday Resistance
1.0315 – Golden Trend Line Support
1.0307 – Weekly Pivot
1.0274 – WS1
Trading recommendations:
Long entries are prefferd for intraday scalps from current levels with SL below 1.0315 and potential TP at 1.0350.
The material has been provided by InstaForex Company – www.instaforex.com
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