Wave summary:

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.

R3: 1.5510

R2: 1.5441

R1: 1.5350

Pivot 1.5320

S1: 1.5271

S2: 1.5170

S1: 1.5116

Trading recommendation:

We will buy EUR at 1.5155 or upon a break above 1.5445.

The material has been provided by InstaForex Company –

Learn the Art of Trading

Earning Consistent Profits As a Trader Is Not As Easy As Many People Would Have You Believe. Join This Mailing List To Learn The Art of Trading for Free.

You have Successfully Subscribed!

Pin It on Pinterest

Share This

Please sharing

Please share this post with your friends!