Today's Support and Resistance levels:
R3: 1.6239
R2: 1.6193
R1: 1.6149
Current Spot: 1.6107
S1: 1.6068
S2: 1.6036
S3: 1.5996
Technical summary:
With the break below the support at 1.6072 the last piece of doubt for the new more bearish count was eliminated. In the short term we are now looking for minor resistance at the 1.6183-1.6193 zone to protect the upside for a break below 1.6068 confirming continuation lower towards 1.6050 and likely even lower towards 1.6018, before the next consolidation is seen. In the longer term we are looking for a decline towards 1.5872 as the ideal target for wave C from 1.7274.
Trading recommendation:
Stay short in EUR from 1.6255 and keep your stop at 1.6200 and take profit + revers (buy EUR) at 1.5890.