Wave summary:
We continue to look for more upside towards 136.14 and the ideal wave D target at 137.36 before turning lower in wave E. Short-term, we expected minor support at 132.24 to be able to protect the downside for the next rally higher to 134.80 and 136.14. A break below 132.24 will delay the expected upside, but support at 130.56 must hold or wave D is likely to complete prematurely.
R3: 134.80
R2: 134.25
R1: 133.85
Pivot: 133.50
S1: 133.12
S2: 132.94
S3: 132.61
Trading recommendation:
We are long EUR from 131.76 with stop placed at 132.55. We will take half profit at 134.80.
