Wave summary:
A break above important short-term resistance at 114.52 seems to be imminent. A clear break above 114.52 will confirm continuation to 116.28 and above towards 118.47 and 122.00.
Short term, support is seen near 114.16 which we expected will act as a floor for the rally higher to 116.28 and above.
Trading recommendation:
We are long EUR from 112.95 and will move our stop higher to 113.60. If you are not long EUR yet, then buy a break above 114.52 and use the same stop at 113.60.
The material has been provided by InstaForex Company – www.instaforex.com
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