General overview for 23/07/2014 10:30 CET
The yesterday's intraday support has been broken and the overall picture looks a little better for this impulsive count. The market is making the lower lows rather slowly and it looks like the low of the wave i at the level of 1.0707 together with the technical support at the level of 1.0695 are the key levels for near-term bears. Please notice, that break below the level of 1.0695 means the price entering the neutral zone.
Support/Resistance:
1.0794 - Swing High
1.0775 - WR1
1.0765 - Intraday Resistance
1.0741 - Weekly Pivot
1.0707 - Intraday Support
1.0695 - Techncial Support
Trading recommendations:
Swing and day traders should keep the short positions open with SL above the level of 1.0794 and TP below the level of 1.0625