Wave summary:
We still need a break above minor resistance at 1.5123 and more importantly a break above resistance at 1.5235 to confirm, that the correction in wave ii/ is complete and wave iii/ higher towards 1.5911 has taken over.
As long as minor resistance at 1.5123 is able to cap the upside, we need to allow for a final move closer to 1.4900 to complete wave ii/ and set the stage for an extended rally in wave iii/.
Trading recommendation:
We are looking for a EUR-buying opportunity at 1.4925 or upon a break above 1.5123.
The material has been provided by InstaForex Company - www.instaforex.com