Wave summary:
A clear break above minor resistance seen at 121.19 calls for a continuation higher to 122.90 and 124.20 on the way towards the ideal wave 3 target seen at 125.53. The former resistance seen at 121.19 is now acting as support and should ideally protect the downside for a continuation higher, but only an unexpected break below support seen at 120.46 will question the immediately bullish outlook.
R3: 124.09
R2: 122.90
R1: 122.50
Pivot: 121.80
S1: 121.19
S2: 120.69
S3: 120.46
Trading recommendation:
We are long EUR from 119.86 and will move our stop higher to 120.40. If you are not long EUR yet, then buy near 121.19 and use the same stop.
