We continue to regard the rally from 133.01 as corrective and is looking for a break below minor support at 135.36 and more importantly a break below support at 135.00 as confirmation that this correction has completed and a new decline 131.11 is developing.
At no point should a break above 136.64 be seen under this count.
We are short EUR from 134.75 with our stop placed at 136.75. Upon a break below 135.00 we will lower our stop to 136.15.
The material has been provided by InstaForex Company – www.instaforex.com