Wave summary:
We continue to look for a little more downside closer to 1.5645 to complete wave ii/ and set the stage for the next impulsive rally in wave iii/ to at least 1.6655. Short term, we expect minor resistance at 1.5861 to be able to cap the upside for the test of 1.5645.Longer term, we continue to look for much higher levels with 1.9702 seen as the long-term minimum target.
R3: 1.6020
R2: 1.5958
R3: 1.5861
Pivot: 1.5800
S1: 1.5708
S2: 1.5645
S3: 1.5554
Trading recommendation:
We will buy EUR at 1.5665 or upon a break above 1.5861.
