General overview for 21/09/2016:
The intraday count has been slightly changed, but it still suggests a deeper decline towards the level of 1.3030 and then a possible rebound higher. The intraday resistance at the level of 1.3252 is still the key level for bulls and any break higher will immediately invalidate current wave developments. The growing bearish divergence between the price and the momentum oscillator support the bearish outlook.
Support/Resistance:
1.3252 – Intraday Resistance
1.3178 – Weekly Pivot
1.3124 – Intraday Support
1.3106 – WS1
1.3030 – Technical Support
1.2962 – WS2
Trading recommendations:
Day traders should consider opening sell orders from current price levels with SL just above the level of 1.3253 and TP at the level of 1.3030.
The material has been provided by InstaForex Company – www.instaforex.com
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