Wave summary:
The correction in wave ii/ ideally completed with the test of 1.4735 and a new impulsive rally towards 1.5837 is building. That said, we need a break above minor resistance at 1.4953 to add confidence in this call, while a break above resistance at 1.5003 will call for more upside towards 1.5193 on the way higher to 1.5837.
Support is seen at 1.4784 and again at 1.4735.
R3: 1.5193
R2: 1.5003
R1: 1.4953
Pivot: 1.4869
S1: 1.4784
S2: 1.4735
S3: 1.4654
Trading recommendation:
We are long EUR from 1.4884 with stop placed at 1.4650. If you are not long EUR yet, then buy a break above 1.4953 and use the same stop at 1.4650.
The material has been provided by InstaForex Company - www.instaforex.com