Trading Conditions
Products
Tools
Wave i/ extended higher to a peak at 1.6831 before letting wave ii take over for a correction lower to at least the low of wave four of one lesser degree at 1.6671. This is very close to the 61.8% corrective target of wave i/ seen at 1.6667. Once this correction is complete near the 1.6667 - 1.6671 area, we will be looking for wave iii/ higher to at least 1.7086.
Short-term, we expect minor resistance at 1.6766 to be able to cap the upside for the decline into the 1.6667 - 1.6671 area to complete wave ii/.
R3: 1.6830
R2: 1.68.12
R1: 1.6788
Pivot: 1.6766
S1: 1.6729
S2: 1.6700
S3: 1.6680
Trading recommendation:
We are short EUR from 1.6772 and we will move our stop +revers lower to 1.6815. We will take profit and buy EUR at 1.6680.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.