We continue to look for a break above minor resistance at 1.5504 as indication that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing.
Short-term support is seen at 1.5279, which should to be able to protect the downside for the expected break above 1.5504 for a rally to 1.59314 and higher.
We are long EUR from 1.5446 with stop placed at 1.5246. If you are not long EUR yet, then buy a break above 1.5504 and use the same stop at 1.5246.
The material has been provided by InstaForex Company – www.instaforex.com