Wave summary:
Wave ii has now tested the 78.6% correction target seen at 119.20 and wave iii is ready to take over for a rally to above 122.88. That said, we need a break above minor resistance at 120.34 to confirm that wave ii has completed and wave iii higher is unfolding.
R3: 121.05
R2: 120.65
R1: 120.34
Pivot: 119.85
S1: 119.60
S2: 119.28
S3: 119.16
Trading recommendation:
Buy EUR near 119.65 or upon a break above 120.34 and place your stop at 119.20
