General overview for 14/09/2015 09:50 CET
The target for the corrective retrenchment in wave (a) blue (alt. 2 blue) has reached the 61% – 66% Fibo level zone, and now it is slowly going down from the level of 137.09. Please notice that as long as the market trades above the weekly pivot at the level of 135.72, there is still a chance the corrective cycle will get more complex and waves (b) and (c) blue will be fully developed.
138.80 – WR1
137.09 – Intraday Resistnace
135.72 – Weekly Pivot
134.53 – WS1
Daytraders should consider opening sell orders from the current market levels with SL just above the level of 137.10 and TP at the level of 135.72.
The material has been provided by InstaForex Company – www.instaforex.com