A minor corrective dip to 122.23 is likely to occur before the next rally higher towards 124.43. A break above here will open the way to 129.26. Only an unexpected break below 121.79 will delay the expected impulsive rally higher to 124.43 and a corrective dip to 121.43 before the next rally higher.
R3: 124.12
R2: 123.32
R1: 123.00
Pivot: 122.79
S1: 122.50
S2: 122.23
S3: 122.19
Trading recommendation:
We are long EUR from 122.51 with our stop placed at 121.75
