Wave summary:
We continue to look higher towards the ideal wave (D) target at 137.36 to complete the triple zig-zag correction from 109.48 and set the stage for the final decline within the triangle towards 117.17 as the ideal target for wave (E) and the triangle consolidation in wave [B].
Short-term, we expect the support at 129.35 will be able to protect the downside for the next rally higher towards the 137.36 target.
R3: 131.71
R2: 131.35
R1: 130.72
Pivot: 130.40
S1: 130.13
S2: 129.95
S3: 129.62
Trading recommendation:
We are long EUR from 130.10 with stop placed at 129.25 and take profit is placed at 137.15.
The material has been provided by InstaForex Company - www.instaforex.com