General overview for 18/08/2015 09:20 CET
As anticipated yesterday, the market reversed after testing the golden trend line resistance and currently is heading lower towards the technical support at the level of 137.34. Please notice that this corrective cycle might evolve into a more complex and time-consuming cycle, especially if the price falls lower into the neutral/range zone.
138.82 – Intraday Resistance
137.78 – Weekly Pivot
137.56 – Intraday Support
136.34 – Technical Support
Yesterday’s shorts should be closed now as the TP level has been hit. Currently traders should refrain from trading and wait for clear pattern to emerge soon.
The material has been provided by InstaForex Company – www.instaforex.com