The minor correction from 124.52 is still in motion and will likely move into support in the 123.54 - 123.61 area before finding a floor and start pushing higher towards the necline resistance at 125.17 and a break above here will call for a continuation towards the former peak at 127.02 and likely even closer to resistance at 129.06 as the next major upside target.
R3: 125.17
R2: 124.57
R1: 124.12
Pivot: 124.09
S1: 123.87
S2: 123.61
S3: 123.54
Trading recommendation:
We are long EUR from 123.46 and we have our stop placed at break-even.
