We have seen minor support at 0.8808 that protected the downside as expected. A firm break above short-term key-resistance at 0.8866 as a break above here will be a strong indication that wave iv has completed and the final rally towards 0.9742 is unfolding.
A break above 0.8866 will also trigger a small inverted S/H/S bottom also adding support to our view that wave iv is close to completion.
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 with our stop placed at 0.8730
