Wave summary:
The correction in red wave iv is extending and will likely move closer to the 38.2% corrective target near 1.6194 before completing and tuning higher in red wave v towards at least 1.6727 and possibly even closer to 1.7106 before completing.
R3: 1.6625
R2: 1.6575
R1: 1.6533
Pivot: 1.6340
S1: 1.6269
S2: 1.6237
S3: 1.6194
Trading recommendation:
Our long EUR-position was stopped at 1.6295 for a loss. We will re-buy EUR at 1.6205 with stop placed at 1.6180.
The material has been provided by InstaForex Company - www.instaforex.com
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