Wave summary:
If a clear break above 1.6236 is not seen soon, we will likely see a deeper correction closer to 1.5928 before the next impulsive rally higher. Only a clear break above 1.6236 confirms the next leg higher towards 1.6969 with minor resistance seen at 1.6349 and 1.661.6636 on the way up.
R3: 1.6349
R2: 1.6236
R1: 1.6125
Pivot: 1.6100
S1: 1.6050
S2: 1.6000
S3: 1.5928
Trading recommendation:
Our stop at 1.6050 has been hit for a nice 540 pips profit. We will buy EUR again at 1.5950 or upon a break above 1.6236.
The material has been provided by InstaForex Company - www.instaforex.com