General overview for 14/11/2014 10:50 CET
The overall count has been little changed when the new high was made. The current count doesn’t place a top for blue wave 5 yet and still indicates that the corrective cycle to the downside has not been completed yet. The intraday support at the level of 144.71 is the key intraday level to the downside. If this level is not broken, then the upside target then is at the level of 146.31. Please notice a multiple bearish divergence on the momentum oscillator that supports bearish view.
146.31 – WR2
144.71 – Intraday Support
144.55 – WR1
143.55 – Technical Support
143.01 – Technical Support
Day traders should consider opening sell orders from the level of 144.69 with SL above the level of 145.05 and TP at the level of 143.35.
The material has been provided by InstaForex Company – www.instaforex.com