The peak at 130.28 could be enough to fulfill the 130.38 target and set the stage for a corrective decline towards at least 128.78 and more likely closer to support in the 126.99 - 127.64 zone.
In the short-term, a break below minor support at 129.68 will indicate that wave i/ has peaked and a corrective decline in wave ii/ is developing. That said, we also need to accept the possibility for one last spike closer to the ideal 130.38 target as long as support at 129.68 holds firm.
R3: 131.15
R2: 130.70
R1: 130.38
Pivot: 129.68
S1: 129.21
S2: 128.78
S3: 128.42
Trading recommendation:
We will sell EUR at 130.25 or upon a break below 129.68
