General overview for 30/04/2015
The breakout from the weekly Expanding Triangle pattern might be completed, but the traders need to wait for a long-term top confirmation as the big wave B purple hasn't really met any target projections. Break out below the key support zone between the levels of 3.5423 - 3.600 is needed as a first clue the top is in the place. Otherwise the move upward might continue soon, because the price just retraced 38% of the latest move upward.
Support/Resistance:
3.9671 - Swing High
3.5923 - 38%Fibo
3.5423 - 3.6000 - Weekly Demand Zone |Key Level|
3.4767 - 50%Fibo
Trading recommendations:
Swingtraders should consider to open buy orders from the current price level, with SL below the level of 3.5400 and TP open for now (might be even a new high in longer term perspective).
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