General overview for 20/10/2016:
The top for the wave looks to be completed at the intraday resistance at the level of 113.91. Currently, there is one more wave to the downside missing, labeled on the chart as wave c purple. The near-term bias is downward as there are still uncompleted wave structures.
Support/Resistance:
116.49 - WR2
115.43 - WR1
114.62 - Weekly Pivot
114.00 - Intraday Resistance
113.67 - Intraday Support
113.11 - WS1
112.74 - WS2
Trading recommendations:
As long as the golden trend line is not clearly violated, day traders should consider opening sell orders as close as possible to the intraday resistance at the level of 115.15. TP level is open for now, but if the level of 114.00 is broken then the next support is seen at the level of 112.97 (78% Fibo).
