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.
3.9671 – Swing High
3.5923 – 38%Fibo
3.5423 – 3.6000 – Weekly Demand Zone |Key Level|
3.4767 – 50%Fibo
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).