We continue to look for a dip below support seen at 1.5588, ideally closer to 1.5537, to complete the expanded flat correction and setting the stage for a new impulsive rally in wave iii/ towards 1.6655.
Short term, a break above minor resistance seen at 1.5869 and more importantly a break above resistance at 1.6002 will confirm wave iii/ higher is developing.
R3: 1.6088
R2: 1.6002
R1: 1.5869
Pivot: 1.5800
S1: 1.5660
S2: 1.5588
S3: 1.5537 – Target for wave ii/
Trading recommendation:
We are looking for re-buy EUR at 1.5550 or upon a break above 1.5869
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
We continue to look for a dip below support seen at 1.5588, ideally closer to 1.5537, to complete the expanded flat correction and setting the stage for a new impulsive rally in wave iii/ towards 1.6655.
Short term, a break above minor resistance seen at 1.5869 and more importantly a break above resistance at 1.6002 will confirm wave iii/ higher is developing.
R3: 1.6088
R2: 1.6002
R1: 1.5869
Pivot: 1.5800
S1: 1.5660
S2: 1.5588
S3: 1.5537 – Target for wave ii/
Trading recommendation:
We are looking for re-buy EUR at 1.5550 or upon a break above 1.5869
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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