Wave summary:
We are looking for more upside pressure towards at least 127.50 as wave C higher is unfolding. The ideal target for this rally in wave C is seen near 138.52.
Short-term, we expect minor support seen at 124.58 will be able to protect the downside for a break above resistance at 125.81 that confirms a continuation higher towards 127.50 and above.
R3: 126.47
R2: 125.81
R1: 125.50
Pivot: 125.20
S1: 125.17
S2: 124.58
S3: 124.12
Trading recommendation:
We are long EUR from 124.65 with stop placed at 124.10. If you are not long EUR yet, then buy near 124.58 and use the same stop at 124.10.
