General overview for 30/06/2015 07:30 CET
The whole weekend gap had been filled in and the weekly pivot resistance at the level of 138.04 had capped the rally. On the other hand, the main impulsive count was invalidated due to wave one and wave four overlaps. Currently, there are two possible counts on the intraday chart and the key level that will invalidate one of those counts is the impulsive count-invalidation line at the level of 135.68.
133.75 – Swing Low
135.68 – Alternative Impulsive Count Invalidation Level
136.13 – Weekly Pivot
136.67- Intraday Support
138.04 – WR1
138.09 – Intraday Resistance
Daytraders should still refrain from trading and wait for the important levels to be tested first: the intraday resistance at the level of 138.05 or the invalidation line at the level of 135.68.
The material has been provided by InstaForex Company – www.instaforex.com