General overview for 18/09/2013 09:00 CET

The price is consolidating just below Key Level resistance area, that must be broken to the upside to expose a possible test of the latest highs.

Not much of a impulsive bullish wave progression tough. Looks more like some more complex wave (ii) black in progress.

Very narrow rage indicates that market is awaiting FED decision, so the situation will be more clear later today. Nevertheless, the main count is still impulsive bulish triangle breakout and it is valid as long as 129.88 is not broken.

RSI has flatten and all above clues indicates that market is in a waiting mode.

Support/Resistance:

133.35 - Swing High

133.30 - WR1

132.65 - KEY LEVEL

132.39 - Intraday Support

132.15 - Weekly Pivot

131.65 - Intraday Support

Trading recommendation:

Please, do not expect too much price action until FED statemend is relased.

The bias is upside due to the higher time frames unifinished cycles.