Wave summary:
Red wave iv continues to extend lower. By breaking below support at 1.6269, the next possible target for red wave iv is seen in the 1.5993 - 1.6055 area from where the next impulsive rally towards 1.6763 is expected.
R3: 1.6690
R2: 1.6533
R1: 1.6441
Pivot: 1.6262
S1: 1.6200
S2: 1.6137
S3: 1.6055
Trading recommendation:
Our stop at 1.6255 was hit for a loss. We are looking for a new EUR-buying opportunity at 1.6060 with stop placed at 1.5960.
The material has been provided by InstaForex Company - www.instaforex.com