Wave summary:
With wave (D) revived more upside pressure to 137.37 is expected. We are currently looking for a break above 134.41 to confirm the final rally higher towards the ideal wave (D) target near 137.37 from where wave (E) lower is expected to take over.
Short-term support is seen at 133.50, which ideally will protect the downside for the expected break above 134.41
R3: 137.37
R2: 136.04
R1: 134.41
Pivot: 134.00
S1: 133.50
S2: 132.90
S3: 132.46
Trading recommendation:
We are long EUR from 133.55 with stop placed at 132.85.
