Wave summary:
We continue to look for a deeper decline in the wave c of (iv) closer to 119.70 to complete the wave (iv) and set the stage for the next impulsive rally higher towards 126.54 to complete the wave (v) and 3.
Short-term resistance is seen at 122.45, max. 123.01 that should cap the upside for the next move lower towards 120.87 and 119.70.
Trading recommendation:
We are short EUR from 123.50 and will place our stop lower at 123.05. Take profit is set at 120.25.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2i47jYX
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