No change in our view. We continue to look for minor resistance at 129.33 to be broken for a continuation higher towards resistance at 130.20 and possibly even closer to the 61.8% corrective target at 130.65.
A break above minor resistance at 129.33 will open for the next rally higher towards our target at 130.20. Support is now seen at 129.00 and then at 128.60.
R3: 130.20
R2: 129.54
R1: 129.33
Pivot: 129.00
S1: 128.77
S2: 128.60
S3: 128.34
Trading recommendation:
We are long EUR from 127.75 with our stop placed at 128.25. Upon a break above 129.33 our stop will be moved higher to 128.50. We will take half profit at 130.10.
The material has been provided by InstaForex Company - www.instaforex.com