Wave summary:
The correction in the wave [iv] completed with the test of 1.5170. Besides, the wave [v] higher to at least 1.5537 and possibly even closer to 1.5764 is now unfolding.
In the short term, the support at 1.5218 should be able to protect the downside for a break above 1.5441 confirming more upside pressure towards 1.5537 and perhaps even closer to 1.5764.
R3: 1.5537
R2: 1.5441
R1: 1.5349
Pivot: 1.5300
S1: 1.5218
S2: 1.5170
S3: 1.5115
Trading recommendation:
We recommend to buy EUR at 1.5170 and with the stop loss placed at 1.5160. If you are not long EUR yet, then but near 1.5218 or upon a break above 1.5349 and use the same stop at 1.5160.
