The complex correction in wave ii continues to use up time as it moves sideways. To break out of this deadlock, we need a clear break above minor resistance at 125.54 that will yield a rally higher to 125.95 on the way higher to 129.48 and ultimately towards 133.54.
Support is seen at 124.67 and key-support is at 124.38 a break below the later, will extend the correction in wave ii even more.
R3: 125.95
R2: 125.46
R1: 125.09
Pivot: 124.85
S1: 124.67
S2: 124.38
S3: 124.15
Trading recommendation:
We are long EUR from 124.65 with our stop placed at 124.15
