General overview for 03/02/2016:
A three-wave corrective cycle to the downside looks now completed and further gains are anticipated. A breakout above the intraday resistance level of 130.81 will be the first confirmation of impulsive wave developing. A new high above the level of 132.23 will be the first target for bulls.
Support/Resistance:
133.69 - WR1
132.27 - Local High|Technical Resistance|
130.81 - Intraday Resistance
130.76 - Weekly Pivot
130.22 - Intraday Support
129.18 - WS1
Trading recommendations:
An uptrend might be resumed now, so day traders should consider placing buy orders from the current market levels with SL below the level of 130.21 and TP open for now.