Wave summary:
We continue to look for the final rally towards the ideal target at 133.34. A break above the resistance at 130.77 will confirm that the final leg higher is developing. Once the 133.34 target has been tested, we should start looking for a reversal lower.
That said, a break below minor support at 128.90 will be a warning that the top might be in place already for more downside pressure.
R3: 130.77
R2: 130.59
R1: 130.04
Pivot: 129.85
S1: 129.53
S2: 129.22
S3: 128.90
Trading recommendation:
We are long EUR from 129.75 with stop placed at 129.15. Take profit will be placed at 133.20.
The material has been provided by InstaForex Company - www.instaforex.com