General overview for 30/12/2016:
The bottom for the blue wave (4) has been established at the level of 121.55 and now the market is trying to develop the last wave to the upside. The most important level is now the intraday resistance at 123.84 and technical resistance at 124.10. This is where the projected top for the blue wave (5) is located, but the market might extend higher towards the level of 125.00.
Support/Resistance:
124.10 - Technical Resistnace
124.07 - WR1
123.84 - Intraday Resistance
122.50 - Weekly Pivot
122.19 - Intraday Support
121.78 - WS1
120.94 - WS2
Trading recommendations:
As there is still one more wave to the upside missing, only buy orders should be placed in this market. We recommend to set TP above the level of 124.08.
