Wave summary:
No much news to add here.We continue to look for a break above minor resistance at 1.5282 that will confirm acceleration higher towards the next target area between 1.5837 - 1.5869. Longer term, we continue to look for much higher levels. Short term, support is seen at 1.4991 and below at 1.4960. Should the later be broken, we will see a dip to 1.4900 before the corrective low is in place and a new impulse rally can take hold.
R3: 1.5282
R2: 1.5228
R1: 1.5193
Pivot: 1.5080
S1: 1.4991
S2: 1.4960
S3: 1.4900
Trading recommendation:
We are long EUR from 1.5123 with stop placed at 1.4955. If you are not long EUR yet, then buy a break above 1.5282 and use the same stop at 1.4955.
The material has been provided by InstaForex Company - www.instaforex.com