With the clear break below 1.5280 the possible expanded flat correction has been invalidated and we will remain focused towards the downside for a continuation lower towards 1.4490.
The next support to look for along the way lower is seen at 1.4920. While short-term resistance is seen near 1.5298 and again at 1.5330.
Trade recommendation:
Stay short from 1.5500 and move your stop to break-even. If you are not short EUR yet, then sell near 1.5330 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
With the clear break below 1.5280 the possible expanded flat correction has been invalidated and we will remain focused towards the downside for a continuation lower towards 1.4490.
The next support to look for along the way lower is seen at 1.4920. While short-term resistance is seen near 1.5298 and again at 1.5330.
Trade recommendation:
Stay short from 1.5500 and move your stop to break-even. If you are not short EUR yet, then sell near 1.5330 and use the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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