Not really anything new to add here. We believe, that blue wave 2 completed with the test of 129.12, but to confirm this is the case, we need a break above short-term important resistance at 130.51. A break above this resistance, will call for the next impulsive rally in blue wave 3 towards 138.10.
Support is seen here at 129.35 and again at 129.12.
R3: 131.27
R2: 130.85
R1: 130.51
Pivot: 130.15
S1: 129.75
S2: 129.35
S3: 129.12
Trading recommendation:
We are long EUR from 129.80 with our stop placed at 129.00.
The material has been provided by InstaForex Company - www.instaforex.com