Wave summary:
A break above the minor resistance at 128.90 indicates a correction from 128.00 is unfolding for a rally closer to 129.90 before renewed downside pressure towards 126.70 and likely even closer to 125.08 before the corrective decline from 131.40 are completed and a new rally closer to 137.36 should be expected.
R3: 130.45
R2: 129.90
R1: 129.69
Pivot: 129.25
S1: 129.12
S2: 128.81
S3: 128.53
Trading recommendation:
Our stop at 128.90 was hit for a small profit. We are looking to sell EUR again at 129.70 with stop placed at 130.90.
