We continue to look for wave c/ of iv/ moving closer to resistance near 127.94 before the final dip to just below 124.89 to complete the complex correction in wave ii, for a new impulsive rally to above 131.99.
That said, we also need to stress the possibility of wave v/ and ii having completed with the test of 124.89 and wave iii already developing. A break above resistance at 128.45 will confirm this count and instantly make this count the top count if seen.
R3: 127.52
R2: 127.06
R1: 126.61
Pivot: 1.2639
S1: 125.76
S2: 125.26
S3: 124.89
Trading recommendation:
We are long EUR from 126.25 with our stop placed at 124.50. We will take half profit at 127.40 and wait for a new EUR-buying opportunity at 125.15.
The material has been provided by InstaForex Company - www.instaforex.com