General overview for 14/07/2015 10:30 CET:
As anticipated yesterday the market moved lower to complete the corrective cycle. Currently, the most important level on chart is intraday support at the level of 135.10 because any breakout lower would invalidate the alternative count and made the top for the wave a green at the level of 137.78. The market is still trading around the weekly pivot level just in the middle of the neutral zone. No decision has been made by the market yet and patience is required.
138.50 – WR1
138.10 – Technical Resistance
137.78 – Intraday Resistance
135.92 – Weekly Pivot
135.10 – Intraday Support
134.54 – WS1
Daytraders should consider opening sell orders for intraday scalp only if the level of 135.08 is clearly violated (hourly candle close below this level), with SL just above the level of 1.35.10 and TP at the level of 134.54.
The material has been provided by InstaForex Company – www.instaforex.com