Wave summary:
Important support at 122.53 is still holding firm and should continue to do so for a rally higher towards 134.62 to complete the wave d of the triangle consolidation. Once the wave d is complete a final dip in wave e should be seen before renewed upside pressure is seen through resistance at 125.31 for a rally towards 134.35.
R3: 124.40
R2: 124.04
R1: 123.77
Pivot: 123.50
S1: 123.23
S2: 122.71
S3: 122.53
Trading recommendation:
We are long EUR from 123.55 with stop placed at 122.45. Take profit is seen at 124.50
