General overview for 24/06/2015 12:30 CET
hree impulsive waves might be observed on the hourly chart, followed by corrective wave four to the upside. Currently, there is one more wave down needed to complete an impulsive wave progression to the downside. Please notice the most important area is supply breakthrough zone between the levels of 138.29 and 137.98. Any breakout below this zone will trigger even sharper decline towards the weekly support pivot at the level of 137.07 (min).
137.07 – WS2
137.98 – 138.29 – Supply Breakthrough Zone
138.19 – Intraday Support
138.50 – WS1
139.25 – Intraday Resistance
The sell orders advised since Monday should be still kept open and traders should keep an eye on grey rectangle area for any possible break out lower.
The material has been provided by InstaForex Company – www.instaforex.com