General overview for 11/12/2015 09:40 CET
The wave c green bottom occurred at the projected level and a strong rebound made the price to break above the intraday resistance line. Nevertheless, the black short-term trend line has not been violated yet and it is still possible that the corrective structure will evolve more complex and time-consuming pattern ahead of the next week's very important Fed's meeting.
Support/Resistance:
134.16 - Intraday Resistance
133.06 - Weekly Pivot
132.75 - Intraday Support
131.56 - WS1
Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur, because current risks to reward ratio are 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 11, 2015 . Thanks for your support.
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