General overview for 08/04/2014 08:45 CET
The grey rectangle area provided the resistance as anticipated and those of traders who entered short positions from the levels recommended yesterday should be in profit by now. Currently, there is still a possibility of downside extension to the level of 140.70 min as the price is now in a possible triangle formation wave 4 red. Only a sustained breakout above the weekly pivot at the level of 141.90 invalidates the downside extension scenario.
Support/Resistance:
143.47 - Swing High
142.56 - WR1
141.90 - Weekly Pivot
141.96 - 141.77 - Techncial Resistance
141.11 - Intraday Support
140.70 - 78%Fibo
Trading recommendations:
Keep short positions open for the target at the level of 140.70 min. Possible downside extension is to the level of 140.41.