After the spike down to 1.5419, we are looking for a new rally to and above resistance at 1.5899 for a continuation to 1.6236 and even higher longer-term.
Support is now seen at 1.5419 and is expected to be able to protect the downside.
We are long EUR from 1.5510 with stop placed at 1.5410. Buy near 1.5419 if possible and use a close stop at 1.5410.
The material has been provided by InstaForex Company – www.instaforex.com