Wave summary:
The corrective rally from 1.7134 was stronger than expected but peaked at 1.7393 and renewed downside pressure towards 1.6619 is now expected. A break below support at 1.7134 will confirm the expected decline.
Short-term resistance is seen at 1.7296 that should be able to cap the upside for the break below important support at 1.7134.
R3: 1.7296
R2: 1.7249
R1: 1.7220
Pivot: 1.7134
S1: 1.7100
S2: 1.7045
S3: 1.7000
Trading recommendation:
We sold EUR at 1.7200 with our stop placed at 1.7415.
