General overview for 03/07/2015 13:35 CET
The corrective cycle in wave b green ( alt: -iv- blue) evolves into more complex and time-consuming one as the fundamental factors from Greece weight on the current market rate. Nevertheless, the triangle idea is still valid as well as the impulsive count and the outlook is still bullish. Please remember that any breakout below the level of 135.68 will invalidate the main count (wave b green triangle) and put the alternative count ( wave -iv- triangle) in charge. Any new low bellow the level of 133.76 invalidates both counts.
133.76 – Swing Low
135.68 – Intraday Support
136.03 – Weekly Pivot
137.52 – Intraday Resistance
138.04 – WR1
Daytraders should refrain from trading until next week due to the fundamental factors based on Greek referendum on Sunday.
The material has been provided by InstaForex Company – www.instaforex.com