Wave summary:
What looked like upside acceleration, was invalidated almost as quickly and support at 128.89 now needs to protect the downside for a break above 129.83 to confirm renewed upside pressure towards 131.40 on the way towards the ideal wave D-target at 137.36.
If support at 128.89 fails to protect the downside, that would call for a more downside pressure towards 127.00 and maybe even closer to 125.08.
R3: 130.82
R2: 130.40
R1: 129.83
Pivot: 129.50
S1: 129.14
S2: 128.89
S3: 128.53
Trading recommendation:
Our stop at 129.35 was hit. We will go with a break of either resistance at 129.83 or support at 128.89.
The material has been provided by InstaForex Company - www.instaforex.com
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