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Wave summary:

After a minor correction towards the 120.36-120.45 area, more upside towards 125.53 remains expected. A short-term break above the minor resistance at 122.20 will confirm continuation higher.

R3: 122.25

R2: 121.90

R1: 121.53

Pivot: 121.00

S1: 120.77

S2: 120.45

S3: 119.97

Trading recommendation:

Our stop at 121.00 has been hit for a nice profit. We will buy EUR again at 120.50 with stop placed at 119.90.

The material has been provided by InstaForex Company – www.instaforex.com

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