Wave summary:
No change in our view.
We continue to look for a clear break below 135.00 confirming wave B peaked at 136.31 and wave C lower to 131.11 is developing. Short-term, we have seen a minor resistance at 135.71, which ideally will be able to cap the upside for the expected break below 135.00.
R3: 136.64
R2: 136.31
R1: 136.01
Pivot: 135.71
S1: 135.00
S2: 134.78
S3: 134.37
Trading recommendation:
We are short EUR from 134.75 with stop placed at 136.75.
