We continue to look for a break above minor resistance at 0.8866 as a strong indication that wave iv has completed with the test of 0.8742 and wave v towards 0.9740 is unfolding. in the short-term, we see support near 0.8808 which is expected to protect the downside for a break above 0.8866. A break above resistance at 0.8911 confirms that the corrective low is in place and the final rally towards 0.9740 is developing.
R3: 0.8911
R2: 0.8866
R1: 0.8827
Pivot: 0.8808
S1: 0.8785
S2: 0.8767
S3: 0.8742
Trading recommendation:
We are long EUR from 0.8760 and we have our stop placed at 0.8730
