Wave summary:
We are still looking for a break above 124.46 to confirm the next impulsive rally higher towards at least 127.00 and possibly even closer to 129.10 in wave iii. Short-term support is seen at 123.99 and again at 123.79. Ideally the later will be able to protect the downside for the expected break above 124.46.
R3: 124.65
R2: 124.46
R1: 124.35
Pivot: 124.25
S1: 123.99
S2: 123.87
S3: 123.79
Trading recommendation:
We are long EUR from 124.46 with stop placed at 123.55. If you are not long EUR yet, then buy a break above 124.46 and use the same stop.
