The break above minor resistance seen at 124.65 has confirmed that wave iii/ higher towards at least 127.50 now is developing. Short term, we should see support in the 124.53 – 124.65 area protecting the downside for a continuation higher to and above 125.81 for the rally higher to 127.50 as the next minor upside target.
R3: 125.81
R2: 125.50
R1: 125.18
Pivot: 125.00
S1: 124.65
S2: 124.53
S3: 124.12
Trading recommendation:
Again we missed the buying opportunity at 123.65 by just 7 pips, but instead bought EUR at 124.65 and stop will be placed at 124.10.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The break above minor resistance seen at 124.65 has confirmed that wave iii/ higher towards at least 127.50 now is developing. Short term, we should see support in the 124.53 – 124.65 area protecting the downside for a continuation higher to and above 125.81 for the rally higher to 127.50 as the next minor upside target.
R3: 125.81
R2: 125.50
R1: 125.18
Pivot: 125.00
S1: 124.65
S2: 124.53
S3: 124.12
Trading recommendation:
Again we missed the buying opportunity at 123.65 by just 7 pips, but instead bought EUR at 124.65 and stop will be placed at 124.10.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: