We have seen the expected corrective decline in wave [ii] closer to support near 1.5836 from where a turn higher in wave [iii] is expected towards 1.6655. As long as minor resistance at 1.6036 is able to cap the upside, as long is a little more downside closer to the ideal 1.5836 target possible, but from here or upon a direct break above 1.6036 a new impulsive rally to above 1.6237 will be expected.
R3: 1.6237
R2: 1.6154
R1: 1.6014
Pivot: 1.5975
S1: 1.5886
S2: 1.5836
S3: 1.5803
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy near 1.5836 or upon a break above 1.6014 and use the same stop at 1.5800.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We have seen the expected corrective decline in wave [ii] closer to support near 1.5836 from where a turn higher in wave [iii] is expected towards 1.6655. As long as minor resistance at 1.6036 is able to cap the upside, as long is a little more downside closer to the ideal 1.5836 target possible, but from here or upon a direct break above 1.6036 a new impulsive rally to above 1.6237 will be expected.
R3: 1.6237
R2: 1.6154
R1: 1.6014
Pivot: 1.5975
S1: 1.5886
S2: 1.5836
S3: 1.5803
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long EUR yet, then buy near 1.5836 or upon a break above 1.6014 and use the same stop at 1.5800.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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