General overview for 23/11/2016: Bulls have handled to retrace 50 % of the previous relocation down and now the marketplace is decreasing to the intraday assistance at the level of 1.3378. This is why the intraday assistance is the essential level for daytraders as any breakout below it will validate the wave c (green) remains in development. The forecasted target zone for the wave c (green) is the need zone between the levels of 1.3290 and 1.3312.
Support/Resistance:1.3596 – WR1
1.3566 – Intraday Resistance
1.3497 – Weekly Pivot
1.3419 – WS1
1.3378 – Intraday Support
1.3308 – WS2
The restorative upward wave development will be completed, so this is why daytraders should consider opening just offer orders with tight SL and TP open for now.
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