General overview for 22/09/2015 09:10 CET
As anticipated yesterday, the market made the wave b purple to the upside and reversed just at the lower channel trend line. Currently, the market is about to complete the last leg down, labeled as wave c purple. That whole wave down might be labeled as wave (b) navy. This means there is one more wave to the upside needed to complete the whole corrective cycle.
132.22 – Swing Low
133.49 – WS2
134.35 – WS1
135.00 – Intraday Resistance
135.91 – Weekly Pivot
Yesterday’s sell orders should be now closed as the pair is approaching trend-line support. Any breakout above the level of 135.00 should be considered bullish.
The material has been provided by InstaForex Company – www.instaforex.com