Today's Support and Resistance Levels:
R3: 140.30
R2: 140.07
R1: 139.99
Current Spot: 139.45
S1: 139.21
S2: 138.88
S3: 138.17
Technical Summary:
I'm still not impressed with the wave behavior, but we are getting close to an important decision point, which will determine whether we are looking at red wave (iii) lower towards 132.13. If this is the case we should see a break below support at 139.21 or whether we are looking at an x-wave in case of a break above resistance at 140.07 for a rally higher towards 142.92 and possibly even higher towards the top at 145.69 in a flat correction.
Today's Support and Resistance Levels:
R3: 1.6525
R2: 1.6477
R1: 1.6430
Current Spot: 1.6370
S1: 1.6350
S2: 1.6305
S3: 1.6253
Technical Summary:
I'm still looking for support at 1.6350 to protect the downside for a break above resistance at 1.6430 confirming a move higher towards 1.6525 and a break here will confirm that wave E of the X-wave triangle did finish at 1.6253 and confirms a continuation higher towards 1.6787 and beyond.
Short term a break below support at 1.6350 will delay the potential upside pressure for a move closer to 1.6305, but we should not see a move below here as a break below 1.6305 will indicate that wave E is not in place yet.
