General overview for 18/09/2013 09:00 CET
The price is consolidating just below Key Level resistance area, that must be broken to the upside to expose a possible test of the latest highs.
Not much of a impulsive bullish wave progression tough. Looks more like some more complex wave (ii) black in progress.
Very narrow rage indicates that market is awaiting FED decision, so the situation will be more clear later today. Nevertheless, the main count is still impulsive bulish triangle breakout and it is valid as long as 129.88 is not broken.
RSI has flatten and all above clues indicates that market is in a waiting mode.
Support/Resistance:
133.35 - Swing High
133.30 - WR1
132.65 - KEY LEVEL
132.39 - Intraday Support
132.15 - Weekly Pivot
131.65 - Intraday Support
Trading recommendation:
Please, do not expect too much price action until FED statemend is relased.
The bias is upside due to the higher time frames unifinished cycles.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via EUR/JPY H1 Analysis for September 18, 2013 . Thanks for your support on EUR/JPY H1 Analysis for September 18, 2013
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