Wave summary:
We missed our buying opportunity at 1.6250 by only 18 pips. A break above minor resistance at 1.6523 is still needed to confirm that red wave iv has completed, but it is likely to be a question of time before this break is seen and confirms continuation higher towards 1.6763 and possibly even higher to 1.7107.
R3: 1.6633
R2: 1.6570
R1: 1.6523
Pivot: 1.6500
S1: 1.6437
S2: 1.6394
S3: 1.6350
Trading recommendation:
We are looking for a buying opportunity at 1.6355 or upon a break above 1.6523. Stop loss will be placed at 1.6255.
The material has been provided by InstaForex Company - www.instaforex.com
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