Wave [iii] completed slightly lower than expected at 1.5940 and wave [iv] declined to 1.5686. Wave [v] higher towards 1.6655 could now be developing. It’s possible that wave [iv] needs a little more time and sideways movement to get completed, but once it happens, a strong rally higher towards 1.6655 should be expected.
R3: 1.6485
R2: 1.6115
R1: 1.6000
Pivot: 1.5800
S1: 1.5714
S2: 1.5685
S3: 1.5590
Trading recommendation:
Our stop at 1.5705 was hit with a hefty profit of 355 pips. We will buy EUR again at 1.5686 or upon a break above 1.5900.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Wave [iii] completed slightly lower than expected at 1.5940 and wave [iv] declined to 1.5686. Wave [v] higher towards 1.6655 could now be developing. It’s possible that wave [iv] needs a little more time and sideways movement to get completed, but once it happens, a strong rally higher towards 1.6655 should be expected.
R3: 1.6485
R2: 1.6115
R1: 1.6000
Pivot: 1.5800
S1: 1.5714
S2: 1.5685
S3: 1.5590
Trading recommendation:
Our stop at 1.5705 was hit with a hefty profit of 355 pips. We will buy EUR again at 1.5686 or upon a break above 1.5900.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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