General overview for 23/09/2015 08:30 CET

The market is getting very close to the bearish impulsive count invalidation line at the level of 1.3309 and this will be a key level for today. Any violation of this level could result in an immediate test of the recent high at the level of 1.3354 and a very possible breakout higher. On the other side, an ongoing bearish divergence is signaling the possibility of retracement lower to the level of 1.3184. Then, a breakout higher is likely to take place.

Support/Resistance:

1.3354 - Swing High

1.3309 - Green Impulsive Count Invalidation Level

1.3296 - Intraday Resistnace

1.3184 - Weekly Pivot

Trading recommendations:

Daytraders and swingtraders should consider opening sell orders with SL above the level of 1.3309 and open TP for now. If a breakout takes place at the level 1.3309, no sell orders should be opened as the market might be heading towards a new high above the level of 1.3355.