Wave summary:
A break above resistance at 1.6410 is needed to give the next "GO" for a rally towards 1.6875 and above. Support is currently seen at 1.6275 and should be able to protect the downside for the expected break above 1.6410.
R3: 1.6488
R2: 1.6450
R1: 1.6410
Pivot: 1.6400
S1: 1.6336
S2: 1.6275
S3: 1.6236
Trading recommendation:
We are long EUR from 1.6365 with stop placed at 1.6250. If you are not long EUR yet, then buy a break above 1.6410 and start by using the same stop at 1.6250.
The material has been provided by InstaForex Company - www.instaforex.com