We continue to look for a firm test of the downtrend-line from the 137.50 peak, this downtrend-line is currently sitting at 130.95. We could see a temporary setback from the first test, but ultimately, we expect this downtrend to be broken for much more upside to come.
Short-term, we expect support at 129.39 to be able to protect the downside for more upside towards 130.95 If the downtrend is broken the next resistance is seen at 131.35.
R3: 131.35
R2: 130.95
R1: 130.28
Pivot: 129.39
S1: 129.04
S2: 128.80
S3: 128.50
Trading recommendation:
Our break-even stop at 129.47 was hit. We will buy EUR here at 129.95 and place our stop at 129.45. We will take half profit at 130.90.
