General overview for 01/12/2015 12:20 CET
Upward wave development was not strong enough to break above the golden trend-line dynamic resistance and the market is currently in a corrective cycle again. Please notice the market is still trading inside the bullish zone and only a sustained breakout below the support at the level of 1.3223 would change the short-term bullish outlook.
Support/Resistance:
1.3447 - WR1
1.3433 - Intraday Resistance
1.3362 - Weekly Pivot
1.3290 - WS1
1.3279 - Intraday Support
Trading recommendations:
Unfortunately, the yesterdays TP has not been hit, but the orders were in profit for the major part of time. For now, traders should refrain from trading and wait for a better pattern to occur.