General overview for 03/07/2015 13:25 CET
The top for the wave 3 seems to be in place now and the market started a corrective cycle to the downside. The first wave of the cycle has been made and now the top for the wave b purple is in progress. The target for wave b might be the intraday resistance at the level of 1.2580.
Support/Resistance:
1.2632 - Wave 3 Top
1.2616 - WR3
1.2580 - Intraday Resistance
1.2537 - WR2
1.2500 - Intraday Support
Trading recommendations:
Daytraders should consider opening sell orders from current market levels with SL above the level of 1.2581 and TP at the level of 1.2500.