http://www.elliottwave.com/r.asp?rcn=ytvideos1403&url=http://www.elliottwave.com/Investor-Research/Financial-Forecast-Service U.S. debt is on the rise and could reach a milestone level sometime in 2017. Student debt has risen for 18 consecutive years, and…
We continue to look for a break above minor resistance seen at 121.05 and more importantly a break above resistance at 121.77 that will confirm red wave iii higher to at least 123.47 is unfolding. Short-term we expect minor support seen at 120.65 will be able to protect the downside for the expected break above 121.05. However, a break below 120.65 will delay the expected rally in red wave iii for a move closer to 120.18 before higher again.
We are long EUR from 120.15 with stop a break-even. If you are not long you yet, then buy a break above 121.05 and use the same stop at 120.15.
The material has been provided by InstaForex Company – www.instaforex.com