General overview for 30/11/2016:
The market has bounced from the golden trend line and this bounce has been labeled as wave -ii-. This means the market is now developing wave -iii- of the last wave (v). The first projected target for this wave is at the level of 121.16, but it might extend higher. No signs of any kind of a trend reversal yet.
Support/Resistance:
121.16 – WR1
120.16 – Intraday Support
119.23 – Weekly Pivot
118.49 – Intraday Support
118.32 – WS1
116.37 – WS2
Trading recommendations:
All the buy orders opened around the level of 118.50 should be now kept open as there is incomplete wave progression to the upside. The first projected TP for this trade is at the level of 121.16.
The material has been provided by InstaForex Company – www.instaforex.com
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