Wave summary:
We continue to look for a clear break below minor support at 131.70 for a decline to 130.73 and possibly lower. Short-term, we expect minor resistance at 132.39 will be able to cap the upside for a new test of the 131.70 support. The next time this support is being tested it should be broken for a continuation lower.
R3: 132.92
R2: 132.72
R1: 132.39
Pivot: 132.00
S1: 131.70
S2: 131.34
S3: 131.00
Trading recommendation:
We are short EUR from 132.65, We will move our stop to break-even and we will take half profit on our short position at 130.80.
The material has been provided by InstaForex Company - www.instaforex.com