General overview for 01/07/2015 09:15 CET
As anticipated yesterday, the violation of the level of 1.2421 was a bullish sign and market went as high as the level of 1.2510. Moreover, the alternative wave count looks completed now because the last wave up might be considered the wave Z in triple zig-zag pattern (which is very common for wave B). Nevertheless, the bullish impulsive count is valid as long as the intraday support at the level of 1.2421 is violated.
1.2128 – WS2
1.2245 – WS1
1.2332 – Weekly Pivot
1.2421 – Intraday Support
1.2447 – WR1
1.2537 – WR2
The near-term bias is still bullish and daytraders should consider opening buy orders as long as the level of 1.2421 is violated.
The material has been provided by InstaForex Company – www.instaforex.com