General overview for 14/01/2016:
The market entered the fifth wave extension cycle that might push the prices higher to complete the cycle. Nevertheless, any violation of the level of 1.4242 would indicate a fifth wave extension invalidation and first clue the top is in place. Please notice the impulsive wave progression has not been completed yet.
1.4382 - Intraday Resistance
1.4355 - WR1
1.4314 - Intraday Support
1.4187 - Technical Support
1.4098 - Weekly Pivot
1.4010 - WS1
Trading recommendations:
Day traders should refrain from trading this pair and wait for a better opportunity to occur.