Technical summary:
Ideally, support near 1.5703 will protect the downside for a break above resistance at 1.5845 and more importantly a break above 1.5879 confirming a new rally towards 1.6100 in a possble b-wave triangle. Only a break below support at 1.5643 will invalidate the outlook for a b-wave triangle and call for renewed downside pressure towards 1.5398 and lower.
Trading recommendation:
We will buy EUR near 1.5703 with a stop at 1.5640.
The material has been provided by InstaForex Company - www.instaforex.com
