Wave summary:
The break above minor resistance at 132.77 indicates that wave B still is developing and likely will spike higher to 133.25 before tuning lower towards 130.52 and likely even closer to 128.85. A break below support at 132.64 will indicate that wave C lower towards at least 130.52 is developing.
R3: 133.25
R2: 133.00
R1: 132.85
Pivot: 132.64
S1: 132.28
S2: 131.84
S3; 131.34
Trading recommendation:
Our stop at 132.80 was hit for a small profit. We will sell EUR again at 133.15 or upon a break below 132.64 with stop placed at 134.45.
The material has been provided by InstaForex Company - www.instaforex.com