We are looking for more upside pressure towards at least 127.50 as wave C higher is unfolding. The ideal target for this rally in wave C is seen near 138.52.
Short-term, we expect minor support seen at 124.58 will be able to protect the downside for a break above resistance at 125.81 that confirms a continuation higher towards 127.50 and above.
R3: 126.47
R2: 125.81
R1: 125.50
Pivot: 125.20
S1: 125.17
S2: 124.58
S3: 124.12
Trading recommendation:
We are long EUR from 124.65 with stop placed at 124.10. If you are not long EUR yet, then buy near 124.58 and use the same stop at 124.10.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We are looking for more upside pressure towards at least 127.50 as wave C higher is unfolding. The ideal target for this rally in wave C is seen near 138.52.
Short-term, we expect minor support seen at 124.58 will be able to protect the downside for a break above resistance at 125.81 that confirms a continuation higher towards 127.50 and above.
R3: 126.47
R2: 125.81
R1: 125.50
Pivot: 125.20
S1: 125.17
S2: 124.58
S3: 124.12
Trading recommendation:
We are long EUR from 124.65 with stop placed at 124.10. If you are not long EUR yet, then buy near 124.58 and use the same stop at 124.10.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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