Technical summary:
We are still looking for a move lower to strong support near 1.7455 before the next strong rally higher towards 1.8682 takes place. In the short term, only a direct break above resistance at 1.8000 will invalidate a call for a little more downside towards 1.7455.
The correction in wave ii has extended more than expected and becoming way more complicated than expected. Lots of unpredictable moves.
Trading recommendation:
Our stop at 1.7780 was hit and we will sideline for now. However, we will place EUR buy orders upon a break above 1.8000.
The material has been provided by InstaForex Company - www.instaforex.com