Wave summary:
Resistance at 133.15 should continue to cap the upside for a test of short-term important support near 131.60 and a clear break below here will confirm that wave (D) completed with the test of 134.49 and wave (E) towards 123.43 is developing.
Short-term minor resistance is seen at 132.86.
R3: 133.98
R2: 133.15
R1: 132.86
Pivot: 132.00
S1: 131.60
S2: 131.00
S3: 130.56
Trading recommendation:
We are short EUR from 132.59 with stop placed at 134.55.
