Wave summary:
Our expectation of more consolidation in wave [iv] closer to 1.5230 has proved to be correct. As long as minor resistance seen at 1.5347 is able to cap the upside, a final spike lower to 1.52301.5205 still could be seen, but from here or upon a break above 1.5347 renewed strength should be expected towards 1.5563 and likely even closer to 1.5781.
R3: 1.5780
R2: 1.5667
R1: 1.5563
Pivot: 1.5300
S1: 1.5230
S2: 1.5205
S3: 1.5170
Trading recommendation:
We will buy EUR at 1.5235 or upon a break above 1.5347.
