General overview for 08/04/2016:
The current wave development looks corrective as the wave (b) blue unfolds. The projected target for this wave is at the level of 124.69 where the downtrend should resume. Please notice that the wave (b) might be more complex in price and time than a simple ABC correction and full of whipsaws and false breakouts.
124.41 – WS3
125.41 – WS2
126.24 – WS1
127.22 – Weekly Pivot
128.05 – WR1
Traders should refrain from trading and wait for another trading setup to occur .
The material has been provided by InstaForex Company – www.instaforex.com