General overview for 09/11/2015 10:10 CET
Wave X brown had been completed in shape of a triangle pattern. Now, the market continues to move higher to complete the wave Y brown cycle. Please notice that the key level for this wave progression is a weekly pivot at the level of 1.3239, and the invalidation line for an alternative impulsive count is seen at the level of 1.3190.
1.3316 – Intraday Resistance
1.3239 – Weekly Pivot
1.3190 – Intraday Support
1.3162 – WS1
Day traders should consider placing buy orders at current price levels with SL below the level of 1.3239 and TP at the level of 1.3316.
The material has been provided by InstaForex Company – www.instaforex.com