Source: Forex Analysis
We continue to look for a dip below support seen at 1.5588, ideally closer to 1.5537, to complete the expanded flat correction and setting the stage for a new impulsive rally in wave iii/ towards 1.6655.
Short term, a break above minor resistance seen at 1.5869 and more importantly a break above resistance at 1.6002 will confirm wave iii/ higher is developing.
S3: 1.5537 – Target for wave ii/
We are looking for re-buy EUR at 1.5550 or upon a break above 1.5869
The material has been provided by InstaForex Company – www.instaforex.com