General overview for 26/09/2016:
The first wave upward from the low at the level of 112.06 may be labeled as impulsive, so now the market is in internal corrective sub-cycle. The key level for bulls is the intraday support at 112.60. The correction should be completed before the price reaches this level.
112.06 – Intraday Support
112.24 – WS1
112.60 – Intraday Support
113.30 – Weekly Pivot
113.61 – Intraday Resistance
114.54 – WR1
115.63 – WR2
Day traders should consider opening buy orders from the current price levels with SL just below the level of 112.60. TP should be left open for now.
The material has been provided by InstaForex Company – www.instaforex.com