Wave summary:
We still need a break above minor resistance seen at 1.6002 to confirm that wave ii/ did complete with the test of 1.5660 and that wave iii/ higher towards 1.6655 is developing. Short-term, we expect minor support seen at 1.5815 max. 1.5785 will be able to protect the downside for the rally above 1.6002 confirming a continuation higher.
R3: 1.6157
R2: 1.6088
R1: 1.6002
Pivot: 1.5900
S1: 1.5815
S2: 1.5785
S3: 1.5689
Trading recommendation:
We are long EUR from 1.5869 with stop placed at 1.5650. If you are not long EUR yet, Then buy near 1.5815 and use the same stop at 1.5650.
