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Thursday, 30 April 2015

USD/PLN Daily & Weekly









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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Wednesday, 22 April 2015

Dax Daily










General overview for 22/04/2015:

The corrective cycle in wave 4 purple has not been completed yet as there is one small sub-wave to the downside needed to finish the cycle. The first projected target level is at the level of 11500 with a possible minor decline into the level of 11401. The bounce/reversal  is expected from this zone anyway. Please notice that any violation of the level 12214 will invalidate the impulsive wave (c) blue scenario and might be first sign of either bullish break out or triangle formation in wave 4 purple.

Support/Resistance:
12143 - Swing High
12214 - Invalidation Level
12097 - WR1
11880 - Weekly Pivot
11500 - 11401 - Projected Target Zone
11343 - WS1

Trading recommendations:
Sell orders should be in play from the latest swing high but this move down might be terminated anytime now, so caution is advised. Please notice the overall corrective structure might evolve into more complex and time consuming triangle formation as well.
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