General overview for 20/11/2015 13:30 CET
The three-wave downside move has been completed, and now intraday corrective sub-cycle is unfolding. Any breakout above the recent swing high at the level of 1.3368 will invalidate the current count and make the corrective cycle more complex and time-consuming.
1.3375 - WR1
1.3368 - Intraday Resistance
1.3298 - Weekly Pivot
1.3245 - Intraday Support
1.3250 - WS1
1.3222 - Wave b Bottom
Day traders should consider placing sell orders from current market levels with SL above the level of 1.3333 and TP at the level of 1.3222.