We continue to look for a spike lower to 1.1.5537 to complete the expanded flat correction in wave ii/ and turning prices higher in wave iii/ to above 1.6237 for a continuation higher to 1.6655. Only a direct break above minor resistance, seen at 1.6006, will indicate that a running flat has been unfolding and wave ii/ completed early.
R3: 1.6080
R2: 1.6006
R1: 1.5847
Pivot: 1.5800
S1: 1.5734
S2: 1.5660
S3: 1.5537
Trading recommendation:
We are looking for re-buy EUR at 1.5550 or upon a break above 1.5985.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for a spike lower to 1.1.5537 to complete the expanded flat correction in wave ii/ and turning prices higher in wave iii/ to above 1.6237 for a continuation higher to 1.6655. Only a direct break above minor resistance, seen at 1.6006, will indicate that a running flat has been unfolding and wave ii/ completed early.
R3: 1.6080
R2: 1.6006
R1: 1.5847
Pivot: 1.5800
S1: 1.5734
S2: 1.5660
S3: 1.5537
Trading recommendation:
We are looking for re-buy EUR at 1.5550 or upon a break above 1.5985.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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