Wave summary:
We continue to look for a little more upside closer to 133.15 to complete wave ii. From here renewed downside pressure should be expected as wave iii lower starts to develop a decline towards 128.36 on the wave lower to the ideal (E)-wave target at 123.43.
Short-term support is seen at 132.46 and again at 131.88. Only a break below the later will confirm that wave ii has completed and wave iii lower is developing.
R3: 133.15
R2: 133.02
R1: 132.84
Pivot: 132.46
S1: 132.24
S2: 131.88
S3: 131.36
Trading recommendation:
We are look to sell EUR again at 133.10 or upon a break below 131.88.
