General overview for 20/10/2015 09:55 CET
One of the possible scenarios for wave b green development is a triangle pattern. Currently, two more sub-waves are needed to complete the triangle pattern before a breakout lower would happen. On the other hand, any breakout above the level of 136.00 would invalidate the pattern scenario and make wave b green more extended to the upside.
Support/Resistance:
136.95 - Wave D Top
136.58 - WR1
136.00 - Intraday Resistance
135.68 - Weekly Pivot
134.79 - Intraday Support
Trading recommendations:
Day traders should consider opening sell orders from the current price levels with SL above the level of 136.20 and TP at the level of 134.75.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for October 20, 2015 . Thanks for your support.
No comments:
Post a Comment