We need to see a break above minor resistance at 1.7026 to confirm that wave ii completed with the test of 1.6684 and wave iii higher towards 1.7360 and 1.7777 is developing.
As long as minor resistance at 1.7026 stays untouched, we will need to allow for a final spike lower to 1.6679, but it’s not necessary.
We are long EUR from 1.6695 with our stop placed at 1.6550.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Torben Melsted,
InstaForex Group © 2007-2018
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