Wave summary:
Ideally the minor support at 1.6327 will continue to protect the downside for a rally above 1.6570 confirming, that red wave v higher towards at least 1.6883 is developing. Longer term, we continue to look for much higher levels for this cross, but sometimes this cross move is slow-motion and is not really going anywhere.
R3: 1.6624
R2: 1.6569
R1: 1.6532
Pivot: 1.6485
S1: 1.6415
S2: 1.6332
S3: 1.6309
Trading recommendation:
We are long EUR from 1.6395 with stop placed at 1.6295. If you are not long EUR yet, then buy a break above 1.6569 and use the same stop at 1.6295.
The material has been provided by InstaForex Company - www.instaforex.com