General overview for 19/08/2014 09:20 CET
The corrective structure in wave -ii- might get more complex as there is not much of an impulsive bullish wave development yet. Please, keep an eye on the grey rectangular zone between the levels of 1.0858 - 1.0873 as this is the main demand zone for intraday traders. The key level remains the same as yesterday and the mid-term outlooks is bullish.
Support/Resistance:
1.0785 - WS2
1.0826 - WS1
1.0857 - Impulsive Count Invalidation Line
1.0873 - Intraday Support
1.0901 - Weekly Pivot
1.0917 - Intraday Resistance
1.0942 - WR1
1.0951 - Key Level for Bears
1.0985 - Swing High
Trading recommendations:
The buy orders form yesterday with SL below the level of 1.0857 and TP above the level of 1.0985 are still open.