We continue to look for a little more downside closer to 131.47 to complete wave i of C. Once wave i is complete a correction to 132.55 will be expected, from here the next decline in wave iii towards at least 129.35 should be seen.
The ideal target for wave C of (E) is seen at 124.90.
R3: 132.55
R2: 132.38
R1: 132.15
Pivot:131.90
S1: 131.70
S2: 131.47
S3: 131.06
Trading recommendation:
We are short EUR from 132.85 and we will move our stop lower to 132.60. We will take half profit at 131.55.
