General overview for 16/09/2015 08:10 CET
The first three waves down are completed labeled as wave (b) blue, but this wave might get more complex and time-consuming. Moreover, the market broke out of the black channel testing it from the downside. Mow it is trying to continue to move downwards. A breakout below the intraday support at the level of 135.00 is needed to confirm this scenario.
138.80 – WR1
137.09 – Intraday Resistnace (strong)
135.47 – Intraday Support
135.88 – Intraday Resistance (weak)
135.72 – Weekly Pivot
134.53 – WS1
Yesterday’s buy orders had not hit the anticipated TP level ( 30 pips miss), but overall it was a good, profitable trading idea. Due to the FED meeting later on tonight the traders should refrain from trading.
The material has been provided by InstaForex Company – www.instaforex.com