Today’s support and resistance levels:
Current spot: 143.44
Red wave v and wave iii seem to have ended early at 144.70 and that means a correction in wave iv currently is unfolding towards 142.46 and maybe even slightly lower to 142.06. At this point, only a quick rally above 144.43 will call for a continuation higher towards 145.21 to end wave iii, but at this point that outcome seems quite unlikely.
We are long in EUR from 143.62 and will close our position here at 143.44 with a minor loss. We will re-buy EUR at 142.20 with a stop at 141.75.
The material has been provided by InstaForex Company – www.instaforex.com