Wave summary:
The corrective decline from 1.6937 is unfolding as expected and should spike lower to 1.6679 before completing and set the stage for the next impulsive rally higher towards 1.7360 on the way higher to 1.7777.
Only a direct break above minor resistance at 1.6839 will tell us that wave ii ended early and wave iii higher to 1.7360 is developing.
R3: 1.6937
R2: 1.6860
R1: 1.6840
Pivot: 1.6737
S1: 1.6711
S2: 1.6679
S3: 1.6613
Trading recommendation:
We will buy EUR at 1.6695 or upon a break above 1.6845.
