Wave summary:
As expected, we saw a final spike lower to 129.63 (the low was seen at 129.53), this should have completed the wave A, and now we are looking for the wave B towards at least 1.3290. In the short term, a break above the minor resistance at 130.74 will confirm that the wave A has completed and the wave B is developing for a rally towards 132.90 and maybe even closer to the 50% corrective target of the wave A at 133.78 or the 61.8% corrective target of the wave A at 1.3465.
R3: 130.74
R2: 130.53
R1: 130.23
Pivot:
129.90
S1: 129.76
S2: 129.53
S3: 129.25
Trading recommendation:
We bought EUR at 129.75 and placed our stop at 129.25.
