Wave summary:
The rally from 1.4654 likely completed the first impulsive rally in wave [i] at 1.5176 and we should now look for a minor correction towards at least 1.4976 and possibly a slightly deeper correction towards 1.4853 in wave [ii] before an extended rally in wave [iii] takes over for a rally towards 1.5837.
In the short term, a break below minor support at 1.5039 confirms that wave [ii] is unfolding.
Trading recommendation:
Our take profit target at 1.5165 was hit for a nice 335 pips profit. We will buy EUR again at 149.25 and start by place our stop at 1.4650.
The material has been provided by InstaForex Company - www.instaforex.com