Wave summary:
We continue to look for more upside pressure through minor resistance at 1.5931 and more importantly above resistance at 1.6006 confirming a continuation higher towards 1.6655. Only an unexpected break below 1.5660 will delay the expected rally and revive the "old" 1.5485 target in an expanded flat wave ii/, before higher again.
R3: 1.6157
R2: 1.6088
R1: 1.6002
Pivot: 1.5900
S1: 1.5776
S2: 1.5730
S3: 1.5660
Trading recommendation:
We are long EUR from 1.5869 with stop placed at 1.5650. If you are not long EUR yet, then buy a break above 1.5893 and use the same stop at 1.5650.
The material has been provided by InstaForex Company - www.instaforex.com
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