Wave summary;
We have finally seen the break above resistance at 1.5668 confirming more upside towards 1.5969 and higher towards 1.6491.Short term, we would like to see support at 1.5558 which acts as a floor for the next impulsive rally higher to 1.5969. If, however support at 1.5558 fails to protect the downside, we should see a new corrective decline closer to 1.5498 before the next rally higher.
Trading recommendation:
We are long EUR from 1.5515 and we will raise the stop to 1.5550. If you are not long EUR yet, then buy a break above 1.5738 and use the same stop at 1.5550.
