General overview for 15/07/2015 09:30 CET:
An upward rally was not that impressive as expected, however a new high has been reached again. The current Elliott wave count still indicates a possible upside wave progression after the alternative count wave is completed. The target still remains at the level of 1.2897. Only a sustained breakout below the intraday support at the level of 1.2631 would invalidate this view.
1.2897 – WR2
1.2802 – WR1
1.2725 – Intraday Support
1.2681 – Weekly Pivot
Buy orders placed yesterday should be still kept open; nevertheless, daytraders should consider opening more buy orders for intraday scalp if the level of 1.2805 is clearly violated (hourly candle close below this level), with SL just below the level of 1.2775 and TP at the level of 1.2897.
The material has been provided by InstaForex Company – www.instaforex.com