Wave summary:
Red wave iv is likely to be completed with the test of 1.6267 and red wave v higher to at least 1.6763 should now be developing. A break above minor resistance at 1.6533 will confirm that red wave iv has completed and red wave v is developing.
R3: 1.6630
R2: 1.6570
R1: 1.6523
Pivot: 1.6500
S1: 1.6437
S2: 1.6347
S3: 1.6267
Trading recommendation:
We bought EUR at 1.6355 with stop placed at 1.6255. If you are not long EUR yet, then buy upon a break above 1.6533 and use the same stop at 1.6255.
