Wave summary:
The low of wave ii was seen at 123.12 just above our ideal target seen at 123.02. We are now looking for a break above minor resistance seen at 124.65, confirming wave iii higher is developing for a rally to above 125.81 for a continuation higher to 134.30.Short term, we could see a minor dip closer to 123.61 before the next move higher to above 124.65.
R3: 124.93
R2: 124.65
R1: 124.39
Pivot: 124.00
S1: 123.61
S2: 123.45
S3: 123.12
Trading recommendation:
We missed our buying opportunity by just 7 pips. We will buy EUR at 123.65 or upon a break above 124.65.
