Wave summary:
We remain focused towards the ideal target at 1.5604 as wave (i) lower. After a correction to 1.6105 renewed downside pressure in wave (iii) is expected towards 1.4702 with the ideal target for wave C seen at 1.4471.Short term, we expect minor resistance at 1.6015 to protect the upside for a break below minor support at 1.5825 confirming the decline to 1.5604 to finish wave (i).
Trading recommendation:
Stay short for a test of 1.5604 move stop to 1.6050. Take profit at 1.5625. If you are not short EUR yet, then sell near 1.6015 or upon a break below 1.5825 use the same stop and take profit levels.
