General overview for 08/08/2016:
The top for the wave b green might be in place now at the level of 1.3190 and the market should start to develop wave c green to the downside. Nevertheless, any breakout above the high at the level of 1.3251 will invalidate the count and then higher prices might be expected.
Support/Resistance:
1.3282 - WR1
1.3251 - Wave Y Top
1.3190 - Intraday Resistance
1.3146 - Intraday Support
1.3135 - Weekly Pivot
1.3080 - WS1
1.3000 - Technical Support
1.2935 - WS1
Trading recommendations:
Day traders should consider to open buy orders only if the level of 1.3251 is clearly violated. Otherwise the bias outlook remains.