General overview for 13/08/2015:
The corrective cycle continues in this pair after the top of the wave 1 blue at the level of 1.3211. This corrective structure might evolve into a more complex and time-consuming pattern and the current abc green cycle to the downside might be just a part of some higher-degree corrective cycle.
1.3129 – Weekly Pivot
1.3092 – Intraday Resistance
1.3046 – WS1
1.2963 – WS2
1.2951 – Intraday Support
Daytraders should consider opening sell orders from the level of 1.3092 with tight SL (10-20 pips) and TP at the level of 1.3000.
The material has been provided by InstaForex Company – www.instaforex.com