As long as support at 124.12 is able to protect the downside, we should continue to look for more upside pressure towards the ideally target for wave i at 127.09.
Short-term we need a break above minor resistance at 124.93 is confirm continuation higher to the 127.09 target from where a more substantial corrective decline is expected. Only a direct break below key support at 124.12 will tell us, that a premature top for wave i already has been seen and a corrective decline into the support-area between 121.22 - 121.92 is developing.
R3: 126.58
R2: 125.90
R1: 124.93
Pivot: 124.45
S1: 124.12
S2: 123.80
S3: 123.39
Trading recommendation:
We are long EUR from 122.50 with our stop placed at 124.00
