General overview for 26/03/2015 10:00 CET
The Elliott wave count on the H4 time frame works quite well now as the market is about to test the a zone between the levels of 1.2352 - 1.2379. Please notice that any violation of the level of 1.2388 will invalidate an impulsive alternative green count. This will mean that more complex and time consuming corrective cycle in wave 4 green is in progress. The next demand zone is the area between the levels of 1.1933 - 1.1803 and it will act as a mid-term support for the price.
Support/Resistance:
1.1933 - 1.1803 - Demand Zone
1.2352 - 1.2379 - Key Zone
1.2388 - Invalidation Level
Trading recommendations:
If the level of 1.2388 is violated to the downside, daytraders and swingtraders should consider opening sell orders on any rally up with SL above the level of 1.2555.
The material has been provided by InstaForex Company - www.instaforex.com
