General overview for 13/08/2015:
The corrective cycle continues in this pair after the top of the wave 1 blue at the level of 1.3211. This corrective structure might evolve into a more complex and time-consuming pattern and the current abc green cycle to the downside might be just a part of some higher-degree corrective cycle.
Support/Resistance:
1.3129 - Weekly Pivot
1.3092 - Intraday Resistance
1.3046 - WS1
1.2963 - WS2
1.2951 - Intraday Support
Trading recommendations:
Daytraders should consider opening sell orders from the level of 1.3092 with tight SL (10-20 pips) and TP at the level of 1.3000.
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