General overview for 27/10/2015: 07:00 CET
In a larger time frame, the current wave development suggests a completed ABCDE triangle pattern in wave B blue. To validate this pattern, the market must rebound impulsively from the current levels and gain more upward momentum to break above the golden trend line. Any violation of the level at 132.21 will invalidate the triangle scenario.
133.65 – Intraday Support
134.25 – Intraday Resistance
134.31 – Weekly Pivot
135.24 – WR1
Day traders should consider buying on dips in this market, with SL below the level of 133.13 and TP at the level of 134.25.
The material has been provided by InstaForex Company – www.instaforex.com