A decline from 137.05 is performen in three waves and therefore more upside pressure is expected towards 138.25 where we the resistance-line of 141.06 is found. A movement back to a high of 141.06 and even higher to 143.90 should be expected.
Only if the resistance line near 138.25 is able to turn prices lower we should see a decline to 126.59 soon and maybe even lower.
Our stop at 136.45 was hit for a very small loss. We will buy EUR at 135.75 with stop at 135.10.
The material has been provided by InstaForex Company – www.instaforex.com