Wave summary:
The rally here is clearly a wave iii of (iii) of 3 rally. It's strong with almost no time for corrections.
We are still looking for more upside towards 1.7770 as the next target on the way higher to 1.8430 longer term. Support is now seen at 1.7114 and again at 1.7049. The later is expected to be able to protect the downside for the next push higher.
R3: 1.7273
R2: 1.7216
R1: 1.7174
Pivot: 1.7114
S1: 1.7085
S2: 1.7068
S3: 1.7049
Trading recommendation:
We are long EUR from 1.6770 and will move our stop higher to 1.6900.
The material has been provided by InstaForex Company - www.instaforex.com