Trading Conditions
Products
Tools
Technical summary:
The decline in wave C of the wave 2 is well advanced and it will be a matter of time when wave 2 terminates and a new impulsive rally can be expected. The only question is whether the bottom of wave 2 already has been found at 126.87 or whether we still need one final decline closer to the ideal 38.2% corrective target at 125.98 before wave 2 terminates. It all comes down to resistance at 131.74 as long as this resistance is able to protect the upside. One final decline closer to 125.98 can not be excluded, while a break above 131.74 will confirm that a bottom was found prematurely at 126.87 and wave 3 to above 149.55 is developing.
Trading recommendation:
We will stay neutral for now and place a EUR buy-order at 126.25 or at 131.85 (a closed order cancels the other one).
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.