Sell below 81.91. Stop loss at 82.65. Take profit at 80.27.
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570, which had been previously reached in August 1997. Later in...
Wave summary: We saw the expected minor correction to 1.4950 (the low was seen at 1.4908). We are now looking for a break above minor resistance at 1.5164 for upside acceleration towards 1.5516 and even higher. This will finally confirm that a long-term scenario is in place with the test of 1.4812 and a new impulsive rally higher to 1.6569 and 1.9023 is expected...
Support/Resistance: 116.60 - Intraday Resistance 115.77 - WR1 114.89 - Weekly Pivot 114.12 - WS1 113.70 - Intraday Support 113.22 - WS2