Wave summary:
The expanded flat correction in wave ii is unfolding as expected. Wave b did not make quite as high as expected and peaked at 124.65 before turning lower in wave c to 123.43 to complete wave ii and set the stage for the next strong rally higher in wave iii towards 133.34.
R3: 124.40
R2: 124.13
R1: 123.92
Pivot: 123.78
S1: 123.74
S2: 123.52
S3: 123.43
Trading recommendation:
Our stop at 124.20 was hit for a 26 pips loss. We will buy EUR again at 123.50 or upon a break break above 124.45.
