Wave summary:
Support at 129.64 should be able to protect the downside for the next rally higher towards 134.80 and the long-term target for wave D at 137.36. An unexpected break below support at 129.64, will shift the top of wave i forward to the 131.71 higher and the ongoing decline from this high as a wave ii correction with an ideal target set at 129.12 before turning higher again.
R3: 131.71
R2: 131.38
R1: 130.69
Pivot: 130.00
S1: 129.64
S2: 129.12
S3: 128.50
Trading recommendation:
We are long EUR from 128.50 with stop placed at 129.55. If you are not long EUR yet, the buy a break above 131.38 and use the same stop at 129.55.
The material has been provided by InstaForex Company - www.instaforex.com
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