Today's support and resistance levels:
R3: 137.82
R2: 137.35
R1: 137.00
Current spot: 136.81
S1: 136.50
S2: 136.29
S3: 136.06
Technical summary:
The break above 137.00 confirmed that the correction in wave B still was unfolding and that we should be looking for a move closer to 137.82 before wave B finally is over and wave C lower to 130.73 will be ready to take over. In the short term we could see a move slightly lower to 136.49 and maybe even to 136.06 before the final rally higher in wave B to 137.82 and then wave C should take over for a decline to 130.73.
Trading recommendation:
Our stop at 137.10 was hit. We will re-sell EUR at 137.70 with a stop at 138.10.
The material has been provided by InstaForex Company - www.instaforex.com
