Today's Support and Resistance levels:
R3: 138.91
R2: 137.91
R1: 137.58
Current spot: 137.28
S1: 137.02
S2: 136.55
S3: 136.00
Technical summary:
Blue wave (iv) is still developing and as long as minor support at 136.78 protects the downside this correction could move a little higher towards 137.91 before blue wave (v) takes over for the final impulsive decline towards 135.36 and maybe even lower towards 134.77 before blue wave (v) and blue wave iii is in place and blue wave iv will take over for a correction towards 137.65 before the final decline in blue wave v towards 134.23.
Trading recommendation:
Stay short in EUR from 141.80 and keep your stop at 138.30. Once support at 136.78 is broken move your stop lower to 137.95. If you are not short in EUR yet, then sell EUR near 137.91 with the same stop at 138.30 but profit should be taken near 135.50.
