General overview for 11/06/2014 10:30 CET
The lower levels anticipated in previous analysis have been hit but so far there is no rebound to the upside from this levels. If the count is correct then the low for wave B black should be in place now at the level of138.28 and higher prices should be seen soon. The first level of resistance is at the level of 138.76 and any impulsive breakout is bullish, possibly towards the test of golden trendline from the downside. Breakout above the trendline is even more bullish.
Support/Resistance:
138.24 - WS2
138.28 - Intraday Support
138.76 - Intraday Resistance
139.15 - WS1
Trading recommendations:
Daytraders should consider opening buy orders from current price levels with Sl below the level of 138.24 and TP at the level of 139.15 with possible upside extension. Breakout above the level of 138.76 is bullish and buy stop orders might be placed at the level of 138.81.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/JPY for June 11, 2014 . Thanks for your support on Technical analysis of EUR/JPY for June 11, 2014
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