We continue to look for a corrective decline into the 123.78 – 124.17 area before the next impulsive rally towards 134.30 and 138.52 should be expected. Short-term resistance is now seen at 125.16 and again at 125.43, Only a break above the later will indicate that the correction is complete and more upside towards 134.30 is developing.
R3: 125.81
R2: 125.43
R1: 125.16
Pivot: 125.00
S1: 124.86
S2: 124.17
S3: 123.78
Trading recommendation:
We will re-buy EUR at 124.20 or upon a break above 125.43.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for a corrective decline into the 123.78 – 124.17 area before the next impulsive rally towards 134.30 and 138.52 should be expected. Short-term resistance is now seen at 125.16 and again at 125.43, Only a break above the later will indicate that the correction is complete and more upside towards 134.30 is developing.
R3: 125.81
R2: 125.43
R1: 125.16
Pivot: 125.00
S1: 124.86
S2: 124.17
S3: 123.78
Trading recommendation:
We will re-buy EUR at 124.20 or upon a break above 125.43.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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