Wave summary:
The break back above 123.35 made us change the count slightly. Instead of wave (iii) completing at 123.19, it completed at 123.35 and the decline to 120.99 was wave a of an expanded flat movement and the rally from 120.99 to 124.09 was wave b and now wave c lower to 120.10 is expected to complete wave (iv) and set the stage for a rally to 126.59 in wave (v) to complete wave 3.
Trading recommendation:
Our stop at 123.45 was hit. We are still looking for sell EUR and will sell at 123.50 with stop placed at 124.15. If our sell target is hit, we will take profit at 120.25.
