Wave summary:
We continue to look for a clear break above the resistance at 1.6236 for upside acceleration towards 1.6969. As long as the resistance at 1.6236 is able to cap the upside, we should see consolidation just below this resistance, but it should only be a matter of time before this resistance is taken out for the expected rally higher to 1.6969.
R3: 1.6470
R2: 1.6300
R1: 1.6236
Pivot: 1.6200
S1: 1.6100
S2: 1.6050
S3: 1.5921
Trading recommendation:
We are long EUR from 1.5510 with stop placed at 1.5910. If you are not long EUR yet, then buy near 1.6100 or upon a break above 1.6236 and use the same stop at 1.5910.
The material has been provided by InstaForex Company - www.instaforex.com
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