Wave summary:
Wave [iii] is now trading just below the ideal target seen at 1.5286. Once this wave [iii] target has been tested, then look for a correction in wave [iv] towards 1.5000 before the next impulsive rally higher should be expected in wave [v].
Short term, a break below support at 1.5112 will confirm that wave [iv] is unfolding.
R3: 1.5516
R2: 1.5375
R1: 1.5286
Pivot: 1.5230
S1: 1.5180
S2: 1.5112
S3: 1.5055
Trading recommendation:
We are long EUR from 1.4840 and will move our stop higher to 1.5100 and place take profit at 1.5275. If you are not long EUR, then wait to buy the expected correction to near 1.5000.
The material has been provided by InstaForex Company - www.instaforex.com