Wave summary:
We continue to regard the rally from 133.01 as corrective and is looking for a break below minor support at 135.36 and more importantly a break below support at 135.00 as confirmation that this correction has completed and a new decline 131.11 is developing.
At no point should a break above 136.64 be seen under this count.
R3: 137.37
R2: 136.64
R1: 136.32
Pivot: 135.36
S1: 135.00
S2: 134.80
S3: 134.35
Trading recommendation:
We are short EUR from 134.75 with our stop placed at 136.75. Upon a break below 135.00 we will lower our stop to 136.15.
