General overview for 18/12/2015 08:10 CET
An internal wave progression of wave Y brown might be completed now as the first targeted level has been hit and the market might resume its upward trend any time soon. Nevertheless, the corrective cycle might as well turn into more complex and time-consuming cycle as well. This is why as long as the wave b green top is not violated, which would be a bullish confirmation, the outlook is still sideways to bearish.
Support/Resistance:
134.74 - WR2
134.57 - Swing High
133.62 - WR1
133.11 - Weekly Pivot
132.70 - Intraday Resistance
132.12 - 50%Fibo
132.04 - WS1
Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur, because current risk to a reward ratio is too big for any trade.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for December 18, 2015 . Thanks for your support.
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