We continue to look for wave D moving higher towards the 130.89 - 130.99 resistance zone before a possible minor peak is in place and a final dip in wave E sets in. A strong break above resistance at 129.23 confirms the expected rally into the 130.89 - 130.99 target zone for wave D.
Support is now seen at 128.62 and important short-term support is located at 128.23, which needs to protect the downside to keep this count alive.
R3: 130.89
R2: 130.06
R1: 129.62
Pivot: 129.25
S1: 128.84
S2: 128.64
S3: 128.22
Trading recommendation:
We are long EUR from 129.25 with our stop placed at 128.00.
The material has been provided by InstaForex Company - www.instaforex.com