General overview for 30/10/2015 07:30 CET
The first two sub-waves of the corrective cycle had been completed and at least one more wave up is needed to complete the cycle. The next hurdle for the price is the demand breakthrough zone between the levels of 133.70 and 133.91 and the golden channel lower. Nevertheless, any breakout higher will result in an immediate test of the weekly pivot at the level of 134.31.
Support/Resistance:
131.28 - WS2
131.54 - 223%Fibo
131.58 - Intraday Support
132.28 - WS1
133.37 - Intraday Resistance
133.70 - 133.91 - Demand Breakthrough Zone
134.31 - Weekly Pivot
Trading recommendations:
Day traders should refrain from trading until the next trading setup will occur.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for October 30, 2015 . Thanks for your support.
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