General overview for 04/10/2016:
The two key levels, marked as gray rectangles, have not been tested yet as the market is trading sideways. The wave (2) might evolve into a more complex and time-consuming structure. When this corrective cycle is completed, the wave (3) to the downside should start. The longer-term bias is bearish and one more wave to the downside should be expected in this pair.
Support/Resistance:
1.2910 – WS2
1.3000 – Technical Support
1.3028 – 1.3048 – Demand Zone
1.3066 – Intraday Support
1.3144 – Weekly Pivot
1.3191 – Intraday Resistance
1.3241 – WR1
1.3261 – 1.3281 – Supply Zone
Trading recommendations:
Day traders should refrain from trading until a clearer trading setup occurs.
The material has been provided by InstaForex Company – www.instaforex.com
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