Today's Support and Resistance Levels:
R3: 145.32
R2: 145.17
R1: 145.01
Current Spot: 144.84
S1: 144.60
S2: 144.37
S3: 144.06
Technical Summary:
I'm still looking for evidence, that wave v of 5 is in place at 145.69. The first real evidence will be a powerful break below 144.37, but only a break below 140.91 confirms the top and that a major correction is developing.
Short term we are at a Make It or Break It point. A break below the channel support-line at 144.50 will add downside pressure, but as long as this support holds firm the risk is to the upside for a break above 145.17 calling for a new challenge of the 145.69 top.
Today's Support and Resistance Levels:
R3: 1.6818
R2: 1.6790
R1: 1.6765
Current Spot: 1.6733
S1: 1.6683
S2: 1.6621
S3: 1.6569
Technical Summary:
We are currently at strong support near 1.6683 and a break below here will indicate continuation lower towards the 1.6569 area. However, if this support protects the downside for a break above 1.6807 green wave ii is already done and a new powerful rally towards 1.6996 and higher to 1.7239 in green wave iii. For now we just have to be patient and let time show us, which scenario is the correct one.
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