General overview for 23/12/2016:
The top for the wave d (green) might be in place and now the market is trying to develop the wave e (green) of a triangle pattern. Break below the intraday support at the level of 122.79 will lead to the immediate test of the wave (a) low at the level of 122.20.
Support/Resistance:
124.43 - WR1
124.07 - Technical Resistance
123.20 - Intraday Resistance
123.01 - Weekly Pivot
122.79 - Intraday Resistance
121.93 - WS1
120.52 - WS2
Trading recommendations:
Daytraders should consider opening sell positions only if the intraday support at the level of 122.79 is clearly violated. TP should be set at the level of 122.20.