General overview for 13/10/2015 09:00 CET
As we had anticipated, the market rebounded higher after completing the wave (c) blue and performing the overall corrective structure in wave 4 purple. Currently, the market is trading below the key resistance at 1.3070/ Any breakout higher will open the road to the level of 1.3130.
Support/Resistance:
1.2900 - Technical Support
1.2990 - Intraday Support
1.2996 - Weekly Pivot
1.3070 - Intraday Resistance
1.3092 - WR1
Trading recommendations:
Yesterday's buy orders should be still in play. The Sl should be moved higher to the level of 1.3000. The projected TP from yesterday was missed by 8 pips so far.