Wave summary:
As support at 1.5980 gave away the backup support at 1.5830 had to step up to the plate and it did as the low has been seen at 1.5832 and the next rally higher towards 1.6236 now should be seen. A break above minor resistance at 1.5996 will confirm the next rally higher towards 1.6236.
R3: 1.6154
R2: 1.6028
R1: 1.5996
Pivot: 1.5950
S1: 1.5885
S2: 1.5830
S3: 1.5779
Trading recommendation:
We are long EUR from 1.5510 with stop placed at 1.5770. If you are not long EUR yet, then buy near 1.5885 or upon a break above 1.5996 and place your stop at 1.5825.
The material has been provided by InstaForex Company - www.instaforex.com