Wave summary
We are still looking for the final leg higher towards 128.91 to terminate wave iv and set the stage for the decline in wave v towards the ideal long term target at 117.38.
Short term support at 126.94 should support the downside for the rally to 128.91.
Trading recommendation:
We are long in EUR from 127.35 and will move our stop higher to 126.90. Take profit + reverse will be placed at 128.75.
The material has been provided by InstaForex Company - www.instaforex.com