Today's Support and Resistance Levels:
R3: 143.24
R2: 142.89
R1: 142.59
Current Spot: 142.38
S1: 142.14
S2: 141.86
S3: 141.41
Technical Summary:
It is still an open question whether we have seen an important top at 142.89 or we need more upside action, before the top is finally in place. To confirm, that we have an important top, we still need a break below 140.91.
Short term look for minor resistance at 142.59 likely protecting the upside for a break below 142.14 and more importantly a break below 141.86, which confirms a new test of important support at 140.91, but only below here confirms, that the top is in place. However, even if we do get a break above 142.89, the upside progress should be very limited, likely we will not see more than 143.24 tested.
Today's Support and Resistance Levels:
R3: 1.6756
R2: 1.6694
R1: 1.6659
Current Spot: 1.6626
S1: 1.6597
S2: 1.6569
S3: 1.6517
Technical Summary:
I'm still looking for the final rally in blue wave v higher towards 1.6869 to end the leading diagonal, as my preferred count. Once 1.6869 have been tested we should see a correction lower towards 1.6569. That said, we have to be aware of the possibility of blue wave v already being in place with the high set at 1.6807. If this is the case, the next rally will break right through resistance at 1.6869 for a continuation towards 1.7239. Only time will tell, which scenario is the correct one.
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