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Wave summary:

With the clear break below 1.5280 the possible expanded flat correction has been invalidated and we will remain focused towards the downside for a continuation lower towards 1.4490.

The next support to look for along the way lower is seen at 1.4920. While short-term resistance is seen near 1.5298 and again at 1.5330.

Trade recommendation:

Stay short from 1.5500 and move your stop to break-even. If you are not short EUR yet, then sell near 1.5330 and use the same stop.

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

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