We continue to look for wave iv/ moving closer to resistance at 1.6914 and more likely closer to resistance at 1.7023. A break above minor resistance at 1.6767 will confirm the next push higher towards at least 1.6914.
Support is now seen at 1.6642 and important support at 1.6560. A break below the later will invalidate our call for a corrective rally towards 1.6914 and above.
R3: 1.6879
R2: 1.6836
R1: 1.6832
Pivot: 1.6767
S1: 1.6731
S2: 1.6706
S3: 1.6642
Trading recommendation:
We are long EUR from 1.6706 with our stop placed at 1.6555. Upon a break above resistance at 1.6767, we will raise our stop to break-even.
The material has been provided by InstaForex Company - www.instaforex.com