Wave summary:
Our preferred count remains bearish for a decline towards the ideal target at 123.43 in wave (E). The decline from 134.50 to 131.42 is counted as minor wave i and the following rally to 133.89 as wave ii. Wave iii is currently developing and should take us lower to at least 128.91 on the way lower to the ideal (E) wave target.
Short-term a break below minor support at 132.06 will add downside pressure, while a break below 131.14 will confirm the decline to 128.91.
R3: 133.89
R2: 133.24
R1: 132.72
Pivot: 132.06
S1: 131.80
S2: 131.61
S3: 131.14
Trading recommendation:
We we missed our EUR selling with just 1 pip yesterday, we will sell EUR again either at 132.45 or upon a break below 132.05.
