General overview for 27/11/2014 09:40 CET
The wave progression is getting more and more consolidated as there is no new low made so far below the level of 1.1190. The price have been making recently a lot of a false breakouts to the upside. That is why my bias is still to the downside as long as the price is trading inside the corrective golden channel. Only a sustained breakout above the level of 1.1368 would change the outlook for more bullish one.
Support/Resistance:
1.1437 - WR2
1.1368 - Key Level
1.1326 - WR1
1.1269 - Intraday Resistance
1.1258 - Weekly Pivot
1.1227 - Intraday Support
1.1224 - WS1
Trading recommendations:
Yesterday's classical breakout trade using sell stop order from the level of 1.1230 should be still kept open. SL above the level of 1.1276 and TP at the level of 1.1190.
The material has been provided by InstaForex Company - www.instaforex.com
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