Wave summary:
No change in view here.
We continue to look for resistance near 133.32 to cap the upside for a break below support at 131.60 confirming that wave (D) completed the test of 134.49 and wave (E) lower to 123.43 now is developing.
Short-term a break below minor support at 132.59 will indicate that wave ii has completed and wave iii lower is developing for a decline to 131.60 and likely closer to 128.36.
R3: 134.49
R2: 133.98
R1: 133.33
Pivot: 132.59
S1: 131.86
S2: 131.42
S3: 131.09
Trading recommendation:
We will sell EUR at 133.20 or upon a break below support at 132.59 with stop placed at 134.55.
The material has been provided by InstaForex Company - www.instaforex.com