General overview for 23/06/2015 13:30 CET
After making a very irregular triangle in wave X black, the market is developing last wave labeled as wave Y black to the downside. The usual important support is at the level of 137.98 and the most important area is the supply breakthrough zone between the levels of 137.98 and 138.27. If this zone is violated in impulsive fashion, the next support will be found at the level of 137.07, but the bias is still bearish for the rest of the week.
136.95 – Technical Support
137.07 – WS2
137.98 – 138.28 – Supply Breakthrough Zone
138.50 – WS1
138.91 – Intraday Resistance
Sell orders that we advised yesterday should be kept open as the price is approaching important levels. Please keep an eye on the price behavior inside the grey rectangle area, as any breakout lower will be considered bearish.
The material has been provided by InstaForex Company – www.instaforex.com