General overview for 08/09/2015 09:30 CET
The corrective cycle to the upside continues and it can still be labeled as wave c of the wave (iv) green so far. Please notice the invalidation line at the level of 134.68. Any violation of this level invalidates the impulsive green count and makes the level of 132.22 the bottom for wave 5 black.
132.22 – Local Low
133.50 – Weekly Pivot
133.70 – Intraday Support
134.68 – Green Impulsive Count Invalidation Level
134.80 – WR1
Daytraders consider opening sell orders from the level of 134.68 with SL just above this level (10-15 pips) and TP at the level of 132.22 with a possible downwards extension.
The material has been provided by InstaForex Company – www.instaforex.com