General overview for 23/09/2013 09:00 CET
The corrective wave iv black is still in progress and currently the price is just shy of level of the strong support made of Weekly Pivot and Intraday Support level zone at 133.81 - 133.87.
If intraday support is broken, then the next level of support comes at 133.31 and it is the KEY LEVEL because it has not been tested yet. If it is broken, this level will become a strong resistance.
Please notice there is still one impulsive wave to the upside missing to complete the cycle.
Support/Resistance:
134.93 - Swing High
134.73 - Intraday Resistance
133.87 - Weekly Pivot
133.81 - Intraday Support
133.31 - Technical Support
132.77 - WS1
Trading recommendations:
Intraday short entry at 133.80 with SL above 134.12 and TP at 133.31. Then long position entry at 133.31 with TIGHT SL and TP open for now.