The failure to accelerate lower yesterday is of course dissapointing and calls for a prolonged correction towards the 61.8% corrective target at 139.18 before wave ii finally is in place. From 139.18 or upon a break below support at 138.73, we will be looking for the next impulsive decline towards 136.23 and possibly even lower.
Trading recommendation:
Our stop at 139.00 was hit and we will sell EUR again at 139.15 with a stop at 140.15.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s Support and Resistance levels:
R3: 139.81
R2: 139.37
R1: 139.18
Current spot: 138.88
S1: 138.73
S2: 138.41
S3: 138.06
Technical summary:
The failure to accelerate lower yesterday is of course dissapointing and calls for a prolonged correction towards the 61.8% corrective target at 139.18 before wave ii finally is in place. From 139.18 or upon a break below support at 138.73, we will be looking for the next impulsive decline towards 136.23 and possibly even lower.
Trading recommendation:
Our stop at 139.00 was hit and we will sell EUR again at 139.15 with a stop at 140.15.
The material has been provided by InstaForex Company – www.instaforex.com
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