Wave summary:
We have seen the expected correction lower, but not yet quite a deep as expected (the low has been seen at 1.6825). As long as minor resistance at 1.6976 is able to cap the upside, we still expect a final dip closer to 1.6808 with an outside chance of moving lower to 1.6740 before the next impulsive rally should commence, for a rally towards 1.7479 and 1.7777.
R3: 1.7101
R2: 1.7039
R1: 1.6976
Pivot: 1.6883
S1: 1.6825
S2: 1.6808
S3: 1.6740
Trading recommendation:
Our stop at 1.6905 was hit for a nice profit of 210 pips on the final 50% position. We will buy EUR again at 1.6815 or upon a break above 1.6976.
