General overview for 06/01/2017:
The wave c (green) is now terminated at the level of 1.3191 which is at 78%Fibo of the overall swing upward. This means, that if the whole cycle in wave 2 (blue) is now completed, then the wave 3 (blue) to the upside should now unfold. The first important key resistance zone is the gray rectangular area between the levels of 1.3387 and 1.3400. Only a sustained breakout above this level would confirm the bullish impulsive scenario. Otherwise, the market might get back to the trading range and trade sideways.
Support/Resistance:
1.3666 - WR2
1.3598 - Wave 1 Top
1.3539 - WR1
1.3470 - Weekly Pivot
1.3461 - Intraday Resistance
1.3387 - Intraday Resistance
1.3400 - 38%Fibo
1.3387 - Intraday Support
1.3340 - 50%Fibo
1.3278 - 61%Fibo
1.3254 - Intraday Resistance
1.3191 - 78%Fibo | Intraday Support
Trading recommendations:
Daytraders should still consider buying the dips in this market as the upward wave progression is uncompleted.
From www.instaforex.com http://ift.tt/2iPrbPw
No comments:
Post a Comment