Wave analysis
Roman Molodiashin
Supports:
- 1.0105 = contracted objective point (COP)
- 1.0070 = .50 retracement
- 0.9958 = super expanded objective point (SXOP)
- 0.9908 = .618 ret
- 0.9895 = objective point (OP)
If the price reverses to the upside the immediate resistances will be Fibonacci retracements of 1.0403-1.0106.
Resistances:
- 1.0219 = .382 ret
- 1.0255 = .50 ret
- 1.0290 = .618 ret
Overbought/Oversold
Assuming that the larger wave is now moving down it's preferable to try short positions when the Detrended Oscillator goes above the zero level (current prices) or gets into the overbought area (50-70 pips above the current prices).
http://instaforex.com/forex_analysis/43491/?x=OUE
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