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Wave summary:

After the spike down to 1.5419, we are looking for a new rally to and above resistance at 1.5899 for a continuation to 1.6236 and even higher longer-term.

Support is now seen at 1.5419 and is expected to be able to protect the downside.

Trading recommendation:

We are long EUR from 1.5510 with stop placed at 1.5410. Buy near 1.5419 if possible and use a close stop at 1.5410.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com

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