Wave summary:
We still look for a break above minor resistance at 115.15 and more importantly above resistance at 115.79 which will confirm the next impulsive rally higher to 119.99 and above.
Short-term support is found at 114.45 and just below at 113.99, which is expected to protect the downside for the next impulsive rally higher.
Only a clear break below 113.99 will delay the expected rally higher while only an unexpected break below 112.57 will invalidate the bullish set-up.
Trading recommendation:
We are long EUR from 114.56 with stop placed at 113.90. If you are nor long EUR yet, then buy near 114.45 or upon a break above 115.15 and use the same stop at 113.90.
The material has been provided by InstaForex Company - www.instaforex.com