General overview for 19/08/2015 09:50 CET
This pair is currently trading at the edge of the bullish zone. It is about to enter the neutral/corrective zone if the intraday support at the level of 137.06 is violated again. The current count might then evolve to WXYXXZ brown alternative count, typical for more complex and time-consuming corrections. For now, the golden trend line is generating the dynamic resistance and the market is trading inside the golden channel.
136.72 – WS1
137.06 – Intraday Support
137.57 – Intraday Resistance
137.78 – Weekly Pivot
Daytraders should consider opening sell orders from current price levels with SL above the level of 137.69 and TP at the level of 136.80.
The material has been provided by InstaForex Company – www.instaforex.com