General overview for 01/06/2015
The corrective cycle continues in this pair and the price is bouncing slightly after hitting 38.6%Fibo retracement. That means the idea of a corrective structure in the shape of a triangle is still valid and a first leg down of this pattern has been done. The intraday golden trend line has been broken as well and this is a first clue that the market is making another leg to the upside, wave b purple.
The buy orders from yesterday should be still kept open. SL below the level of 1.1728 and TP at the level of 1.1842