General overview for 28/11/2014 10:00 CET
The market is still in more extended corrective cycle as the suggested triangle shape has not been completed yet. Any breakout above the intraday resistance at the level of 147.37 is bullish and any breakout below the intraday support at the level of 146.27 is bearish.The bias is still slightly bullish as the corrective cycle has not been finished yet.
149.14 – Swing High
148.50 – Intraday Resistance
147.98 – WR1
147.37 – Intraday Resistance
146.27 – Intraday Support
146.38 – Weekly Pivot
145.67 – Technical Support
145.84 – Intraday Support
Still the buy order recommended at the beginning of the week should be kept open and SL should be placed below the intraday support at the level of 146.28 and TP level in longer term should aim for the level of 147.98 and 149.14. Breakout below the level of 146.28 invalidates any other buy trade possibility.
The material has been provided by InstaForex Company – www.instaforex.com