Wave summary:
A breakout above the minor channel resistance line indicated that the correction from 1.7273 had ended early at 1.6473. With a breakout above the minor resistance line and a breakout above resistance at 1.7008, we should see a continuation higher to 1.7273 en route to 1.7611 and higher to 1.8022 as the next upside targets.
Support is now seen at 1.6842, which will ideally protect the downside for a rally towards 1.7273 and higher.
Trading recommendation:
We are long EUR from 1.6705 and will move our stop higher to break-even. If you are not long EUR yet, then buy near 1.6850 and use the same stop at 1.6705.
