Wave summary:
The correction in wave [ii] finally seems to have found its completion with the test of 1.4554 and we will now be looking for a break above the minor resistance seen at 1.4751 and more importantly a break above the resistance at 1.4866 that confirms continuation higher towards 1.5282 and above.
Support is now seen at 1.4554 and again at 1.4495 that needs to protect the downside.
R3: 1.4866
S2: 1.4803
S1: 1.4751
Pivot: 1.4680
S1: 1.4581
S2: 1.4554'
S3: 1.4495
Trading recommendation:
We are long EUR from 1.4840 with stop placed at 1.4490. If you are not long already, then buy a break above 1.4751 and more importantly a break above 1.4866
The material has been provided by InstaForex Company - www.instaforex.com
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