General overview for 08/06/2015 08:30 CET
As anticipated last Friday, the market went down to develop another wave, labeled as wave c green on the chart. Currently, the market is testing the weekly pivot zone at the level of 138.71 and this level might be a target for the wave c green. The second target might be inside the supply breakthrough zone between the levels of 138.03 – 138.32. Please notice that the market is still trading inside of a bullish zone and any breakout higher would mean that labeling will be changed to alternative.
141.05 – Swing High
139.83 – Intraday Resistance
138.88 – Intraday Support
138.71 – Weekly Pivot
138.03 – 138.32 – Supply Breakthrough Zone
136.95 – Technical Support
Daytraders should consider opening sell orders from current price levels with SL above the level of 139.83 and TP at the level of 138.71.
The material has been provided by InstaForex Company – www.instaforex.com