After some sideways consolidation between 1.7352 - 1.7448 more upside will be expected towards the next minor upside targets at 1.7924 on the way higher towards 1.8369 and 1.8423.
Support is now seen at 1.7404 and again at 1.7352. Ideally the later will be able to protect the downside for a clear break above 1.7480 confirming the next part of the uptrend towards 1.7924.
Only a break below support at 1.7301 will question the expected rally higher.
R3: 1.7667
R2: 1.7564
R1: 1.7480
Pivot: 1.7437
S1: 1.7404
S2: 1.7388
S3: 1.7352
Trading recommendation:
We are long EUR from 1.7226 and we will raise our stop to 1.7275.
The material has been provided by InstaForex Company - www.instaforex.com