General overview for 19/06/2015 08:40 CET
The current wave progression looks clearly corrective so far. This is why the bias is still bearish. The key level to the downside is the intraday support at the level of 139.38, so any breakout lower will directly expose the supply breakthrough zone. If the pair does not hold this zone, technical support at 136.95 will be the next to test. Only a new higher above the level of 141.05 would invalidate this scenario.
140.64 – Intraday Resistance
139.70 – WR1
139.38 – Intraday Support
137.97 – 138.31 – Supply Breakthrough Zone
Daytraders should consider opening sell orders from the level of 139.35 (when intraday support level is violated), with SL above the level of 140.01 and TP at the level of 138.30.
The material has been provided by InstaForex Company – www.instaforex.com