We are still looking for a move lower to strong support near 1.7455 before the next strong rally higher towards 1.8682 takes place. In the short term, only a direct break above resistance at 1.8000 will invalidate a call for a little more downside towards 1.7455.
The correction in wave ii has extended more than expected and becoming way more complicated than expected. Lots of unpredictable moves.
Our stop at 1.7780 was hit and we will sideline for now. However, we will place EUR buy orders upon a break above 1.8000.
The material has been provided by InstaForex Company – www.instaforex.com