General overview for 14/05/2015 10:10 CET
The latest count had been slightly changed to incorporate the latest wave up labeled as wave (v) green. This wave is still incomplete as it looks like it needs one more sub-cycle higher to finish the impulsive sequence and reverse lower. Please notice that bearish divergence has been formed between the price and the momentum oscillator. This fact supports our view. A breakout below the intraday support at the level of 135.46 would be another confirmation.
134.34 – Weekly Pivot
135.46 – Intraday Support
135.59 – WR1
135.97 – Intraday Resistance
Daytraders and swingtraders should consider opening sell orders after a new high is made and the impulsive structure is completed.
The material has been provided by InstaForex Company – www.instaforex.com