General overview for 21/10/2016:
The current upward wave progression is a part of a corrective cycle wave X and, according to the main count, it might even be completed. The most important level for today is the supply zone between the levels of 1.3290 - 1.3312. Only a sustained breakout above this level would change the overall outlook to more bullish. Nevertheless, there are still some uncompleted waves to the downside.
Support/Resistance:
1.3022 - WS1
1.3169 - Weekly Pivot
1.3236 - WR1
1.3185 - Intraday Resistance
1.3139 - Intraday Support
1.3028 - 1.3045 - Demand Zone
Trading recommendations:
All sell orders shouls now be closed with profit and day traders should refrain from trading and wait for another trading setup to occur shortly.
From www.instaforex.com http://ift.tt/2dTXLdr
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