We are looking for confirmation, that wave e of B has completed, A break below minor support at 128.72 and more importantly a break below support at 128.15 is needed to confirm wave B has completed and the final decline in wave C towards the long-term ideal target at 123.66 is developing.
At no point can a break above 129.29 be accepted under this count. A break above important resistance at 129.29 will invalidate wave B as a triangle and call for a rally to at least 130.15.
R3. 129.68
R2: 129.29
R1: 129.15
Pivot: 128.72
S1; 128.15
S2: 127.77
S3: 127.20
Trading recommendation:
WE are short EUR from 128.05 with our stop+revers placed at 129.35.
