Today's Support and Resistance levels:
R3: 142.50
R2: 142.11
R1: 141.70
Current spot: 141.47
S1: 141.22
S2: 140.96
S3: 140.64
Technical summary:
We saw an attempt to break lower on Friday, but it failed and was followed by a quick rally above 140.95, indicating that the decline only was and x-wave in a complex corrective cycle. We are now looking for support in the 140.64 - 140.96 area to protect the downside for one last rally higher towards 142.11 and maybe even higher towards 142.50 before renewed downside pressure is seen for a decline towards 136.45.
Trading recommendation:
Our stop at 140.95 was hit for a small loss. Sell EUR at 142.35 with a stop at 143.80.
