Trading Conditions
Products
Tools
Wave summary:
The failure to break below support at 112.05 is disappointing and calls for a larger correction in wave [ii] and a move closer to the 114.40 - 114.55 area before wave [ii] is complete and wave [iii] takes over for a decline below 112.05 for a decline towards the ideal target near 104.15.
Minor support is now found at 113.59 and only below here indicates that wave [ii] is complete and wave [iii] lower to 108.03 is developing.
Trading recommendation:
We are short EUR from 112.85. If you are not short EUR yet, then sell near the 114.40 - 114.55 area and place your stop at 115.50. We will extraordinary move out stop to 115.50 too.
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.