Today's support and resistance levels:
R3: 137.67
R2: 137.47
R1: 137.30
Current spot: 137.12
S1: 137.01
S2: 136.81
S3: 136.61
Technical summary:
We have seen a break below the minor support line from 135.73, which is the first strong indication that the final wave v decline towards 134.34 is unfolding, but we still need a break below 136.81 to confirm that wave v is indeed developing for the expected decline towards the equality target between wave A and C at 134.34. Only a break above resistance at 137.91 will invalidate the bearish count and call for a rally higher to 140.07.
Trading recommendation:
We are short in EUR from 137.75 with stop placed at 137.70. If you are not short in EUR yet, then sell near 137.30 with the same stop at 137.70.
