Nothing happening here. The range-trading between 1.7220 and 1.7310 continues to dominate the picture. We continue to look for a break above resistance at 1.7310 and more importantly a break above resistance at 1.7355 that confirms red wave ii has completed and red wave iii has taken over for the next impulsive rally towards 1.7924 and 1.8369 as the next larger upside targets.
R3: 1.7484
R2: 1.7417
R1: 1.7355
Pivot: 1.7310
S1: 1.7270
S2: 1.7243
S3: 1.7220
Trading recommendation:
We are long EUR from 1.7245 with our stop placed at 1.7215.
