Wave summary:
We continue to look for minor resistance at 128.47 protecting the upside for a break below minor support at 127.28 and more importantly a break below support at 126.76 confirming renewed downside pressure towards 126.05 and below to 125.45.
If minor resistance at 128.47 is broken, a more complex correction will be unfolding and a minor rally closer to 129.48 should be expected before the next downside pressure sets in.
Trading recommendation:
We remain short from 130.95 with stop placed at 129.10. If you are not short EUR yet, then sell near 128.20 with stop placed at 128.50.
The material has been provided by InstaForex Company - www.instaforex.com