General overview for 04/10/2014 08:50 CET

Three impulsive waves to the upside has been made and now it is time for the corrective cycle wave (iv) to test the intraday supports at the levels of 141.36 and eventually 140.00 again. Nevertheless, the bias is bullish and when the corrective cycle is done, an impulsive breakout above the level of 142.55 is expected with a projected target at the level of 143.67.

Support/Resistance:

143.78 - Larger Time Frame Swing High |Key Level|

143.67 - WR1

143.47 - Technical Resistance

142.55 - Intraday Resistance

141.36 - intraday Support

140.11 - Weekly Pivot

Trading recommendations:

Day traders should consider opening buy stop orders from the level of 143.57 with SL below the level of 141.36 and TP at the level of 143.67.