Today's support and resistance levels:
R3: 140.96
R2: 170.71
R1: 140.33
Current spot:140.10
S1: 139.94
S2: 139.67
S3: 139.51
Technical summary:
The correction from 141.22 became slightly deeper than expected, but it does not change anything in the larger picture as the expected rally higher to 143.79 is well on track. In the short term, we are looking for a rally above minor resistance at 140.33 as the first indication, that the rally higher is unfolding for a move higher to 141.22 on the way towards important resistance at 143.79.
Trading recommendation:
We are long in EUR from 135.95 and we sill move stop higher to 139.05. If you are not long in EUR yet, then buy here or upon a break above 140.33 with the same stop at 139.05
The material has been provided by InstaForex Company - www.instaforex.com
