General overview for 19/12/2016:
The top for the wave b (green) seems to be in place, so now it is time for a further decline below the intraday support at the level of 122.56. If the corrective cycle is going to unfold as a simple abc correction, this should be the last wave of the corrective progression to the downside. Otherwise, the corrective cycle might get more complex and time-consuming and evolve into a pattern like a triangle.
Support/Resistance:
124.43 - WR1
124.07 - Intraday Resistance
123.01 - Weekly Pivot
122.56 - Intraday Support
121.93 - WS1
120.52 - WS2
Trading recommendations:
Daytraders should consider opening sell orders only if the intraday support at the level of 122.56 is clearly violated. TP should be set at the level of 121.93.
From www.instaforex.com http://ift.tt/2hYpeAb
No comments:
Post a Comment