General overview for 28/07/2015 10:40 CET
The market has broken through yesterday’s resistance at the level of 136.41. This level will act as a support. The upward wave progression has not been completed yet and more gains at the market are expected. Please keep an eye on the intraday support at the level of 136.41 as any breakout lower would invalidate the impulsive wave development and weekly pivot at the level of 135.60 might be tested again.
137.67 – WR2
137.10 – Intraday Resistance
136.86 – WR1
136.43 – Intraday Support
135.60 – Weekly Pivot
134.77 – WS1
Daytraders should close the buy orders from yesterday and wait for another upside breakout to produce another chance to enter the market. The best level to place the buy stop order is at the level of 137.10 with tight SL (15-20 pips) and TP at the level of 137.63.
The material has been provided by InstaForex Company – www.instaforex.com