The flat correction in wave [iv] continues to unfold. We are still looking for a move closer to 1.5116 before the correction in wave [iv] should complete and set the stage for the next impulsive rally in wave [v] of i higher towards 1.5765.
In the short term, only a direct break above the resistance at 1.5441 will indicate that the correction has already completed and wave [v] is developing.
We will buy EUR at 1.5155 or upon a break above 1.5445.
The material has been provided by InstaForex Company – www.instaforex.com