Wave summary:
We are still looking for a deeper correction in wave iv closer to 126.38 before the next rally higher in wave v will take over for a rally towards 133.46.
Short-term resistance is seen at 129.57 which ideally will be able to cap the upside for the decline towards 126.38.
Trading recommendation:
We are short EUR from 129.85 with stop placed at 129.70 and take-profit at 126.50.
