General overview for 24/09/2015 12:20 CET
The bearish impulsive count has been invalidated due to the wave (i) and wave (ii) overlaps. Currently, the higher time frame count has been revised and updated. The main change was implementation of the alternative count wave 4 purple low at the level of 1.309. The current main count suggest more upward wave progression in the last wave up (wave 5 purple). The first projected target level for wave 5 purple is at the weekly pivot resistance at the level of 1.3451.
1.3451 – WR2
1.3356 – WR1
1.3354 – Swing High
1.3296 – Intraday Support.
Daytraders should consider opening buy orders form the current market levels with SL below the level of 1.3295 and TP at the level of 1.3451.
The material has been provided by InstaForex Company – www.instaforex.com