After an almost perfect test of the 61.8% corrective target 1.5836 (the low has been seen at 1.5852), a corrective low should be in place for a break above minor resistance seen at 1.6014 and more importantly a break above resistance at 1.6093 that confirms renewed upside pressure towards 1.6655 and above in the longer term.
R3: 1.6237
R2: 1.6154
R1: 1.6014
Pivot: 1.5996
S1: 1.5886
S2: 1.5852
S3: 1.5803
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long yet, then buy 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:
After an almost perfect test of the 61.8% corrective target 1.5836 (the low has been seen at 1.5852), a corrective low should be in place for a break above minor resistance seen at 1.6014 and more importantly a break above resistance at 1.6093 that confirms renewed upside pressure towards 1.6655 and above in the longer term.
R3: 1.6237
R2: 1.6154
R1: 1.6014
Pivot: 1.5996
S1: 1.5886
S2: 1.5852
S3: 1.5803
Trading recommendation:
We are long EUR from 1.5665 with stop placed at 1.5800. If you are not long yet, then buy 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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