Wave summary:
Today, we would like to present an alternative count that is moving up to be the preferred count. If this count is correct, then the wave A should be close to completion and the wave B should be ready to take over for a rally towards at least 132.90.
Under this count, we do expect a final spike lower to 129.63 to complete the wave A and set the stage for a rally in the wave B.
R3: 131.70
R2: 131.25
R1: 130.79
Pivot: 130.45
S1: 130.00
S2: 129.75
S3: 129.63
Trading recommendation:
Our stop at 130.45 was hit for a 100 pip profit. We will buy EUR at 129.75 or upon a break above the resistance at 130.79.