Wave summary:
Our preferred count remains that wave (D) completed with the test of 134.50 and wave (E) lower towards the ideal target seen at 123.43 now is developing. Short-term, we would like to see more downside pressure and a break below support at 132.90 and more importantly a break below support at 132.62 that calls for a new test of 131.14 and below here confirms that wave (D) has completed and wave (E) is developing.
R3: 134.50
R2: 134.38
R1: 134.05
Pivot: 133.24
S1: 132.90
S2: 132.62
S3: 131.95
Trading recommendation:
We sold EUR at 133.75 with our stop placed at 134.55.
The material has been provided by InstaForex Company - www.instaforex.com