Wave summary:
The corrective decline from 1.5235 has extended closer to the 1.4778 target. However, signs of fatigue is now clear and a break above 1.4886 and more importantly a break above resistance at 1.5003 will confirm that wave ii/ finally has completed and wave iii/ higher to 1.5837 is ready to take over.
At no point can a break below support at 1.4654 be allowed under this count, but that outcome seem to be a very low possibility.
R3: 1.0503
R2: 1.4911
R1: 1.4886
Pivot: 1.4844
S1: 1.4794
S2: 1.4750
s3: 1.4679
Trading recommendation:
We will buy a break above 1.4886 with stop placed at 1.4650 expecting to move it higher soon.
The material has been provided by InstaForex Company – www.instaforex.com
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