Wave summary:
We continue to look for more upside towards 134.80 and 136.14 as the next upside targets before the ideal wave D target at 137.36 from where wave E is expected to take over in the last swing lower to complete the hugh triangle consolidation.
Short-term, we will ideally see minor support at 133.24 to protect the downside for the next move higher towards 134.80. Only an unexpected break below support at 132.24 will indicate that wave D completed early.
R3: 134.80
R2: 134.25
R1: 133.85
Pivot: 133.50
S1: 133.12
S2: 132.94
S3: 132.24
Trading recommendation:
We are long EUR from 131.76 with stop placed at 132.55. We will take half profit at 134.80.
The material has been provided by InstaForex Company - www.instaforex.com