We expect minor resistance near 132.51 to be able to cap the upside for a new stab lower towards the ideal target near 131.46 to complete wave i of C. In the short term, a break below minor support at 132.19 will confirm that wave iv/ has completed and wave v/ of i lower to 131.46 is developing.
R3: 132.84
R2: 132.69
R1: 132.51
Pivot: 132.19
S1: 132.03
S2: 131.85
S3: 131.46
Trading recommendation:
We are short EUR from 132.85 with stop at breakeven. We will take half profit at 131.55.
