Wave summary:
As long as support at 133.24 is able to protect the downside, we will keep our focus towards the upside for a continuation higher towards 134.80 and 136.14 on the way towards the ideal wave D target at 137.36.
From 137.36 or upon a direct break below support at 133.24 a zig-zag decline in wave E will be expected to complete the huge triangle consolidation, that has been developing since July 2008.
R3: 136.14
R2: 134.80
R1: 134.41
Pivot: 134.00
S1: 133.24
S2: 132.94
S3: 132.61
Trading recommendation:
We are long EUR from 131.76 with stop placed at 133.15. We will take half profit at 134.80.
The material has been provided by InstaForex Company - www.instaforex.com
No comments:
Post a Comment