Wave summary:
We are looking for wave b to move higher to at least 1.6475 and possibly even closer to resistance at 1.6529 before turning lower in wave c towards 1.6160 to complete wave ii. Short-term minor support is seen at 1.6410, which is expected to protect the downside for a continuation higher to 1.6475 as wave b develops.
R3: 1.6584
R2: 1.6529
R1: 1.6475
Pivot: 1.6410
S1: 1.6397
S2: 1.6375
S3: 1.6341
Trading recommendation:
We are looking for a EUR shorting opportunity at 1.6525 with stop placed at 1.6635
