General overview for 17/06/2015 08:30 CET
As anticipated yesterday the reversal zone provided the resistance and the price reversed to the downside to make wave a purple. Currently, the supply breakthrough zone between the levels of 137.98 and 138.30 is still the most important support zone. When this support is violated, the next one is technical support at the level of 136.95. On the other hand, only a sustained breakout above the level of 140.01 would invalidate this view.
141.05 – Swing High
139.89 – 140.00 – Reversal Zone
139.70 – WR1
138.82 – Weekly Pivot
137.98 – 138.30 – Supply Breakthrough Zone
138.16 – Intraday Support
136.95 – Technical Support
Daytraders should consider opening another sell orders from current price levels with SL above the level of 140.01 and TP at the level of 138.00 with possible extension downwards to the level of 136.95.
The material has been provided by InstaForex Company – www.instaforex.com