Wave summary:
We remain cautiously bullish as long as important support at 110.79 stays intact and will look for a break above minor resistance at 113.36, which will ease the downside pressure, while a break above resistance at 114.81 is still needed to confirm that the corrective low in wave ii is in place at 112.28 and a new impulsive rally towards 118.47 and above is developing.A break above 114.81 will target 115.15 with 116.63 and the next minor upside target.
Trading recommendation:
We are long EUR from 113.27 with stop placed at 112.27. If you are not long EUR yet, then buy a break above 113.36 and use the same stop at 112.27.
