General overview for 20/05/2014 08:00 CET
The current wave progression develops exactly the way I anticipated. After hitting the support zone yesterday, the market rebounded and now is going upwards to complete wave c green. The next level of interest for the bear side of the market is at the level of 1.0890 where the intraday resistance is.
1.0813 - Wave (iii) Green Low
1.0834 - Technical Support
1.0851 - Intraday Support
1.0874 - Weekly Pivot
1.0890 - Intraday Resistance
1.0897 - WR1
Trading recommendations:
Buy orders advised yesterday should be still in play as the target for this orders is at the level of 1.0890. Please notice that trading inside of a possible triangle formation is full of false breakouts and whipsaws.