Wave summary:
We have seen a nice impulsive rally from 120.50 to 122.75 indicating that a new rally to above 124.09 is unfolding. Short term, we could see a minor set-back towards 121.75 before the next impulsive rally higher towards at least 123.97 and possibly even closer to 125.34 should be expected.Our long-term target for wave v and 3 is still seen at 126.54.
R3: 123,73
R2: 122,93
R1: 122,75
Pivot: 122,41
S1: 122.26
S2: 122.05
S3: 121.75
Trading recommendation:
We are long EUR from 121.40 with stop placed at 120.45. If you are nor long EUR yet, then buy near 121.75 and use the same stop at 120.45