Wave summary:
We continue to look for a little more downside into the support zone between 123.59 - 123.92 to complete wave ii and set the stage for the next impulsive rally in wave iii towards 134.30 with the ideal target for wave C seen near 138.52.
Short-term a break below minor support seen at 124.51 confirms the expected minor decline to complete wave ii.
R3: 127.33
R2: 125.82
R1: 125.30
Pivot: 124.75
S1: 124.39
S2: 123.92
S3: 123.59
Trading recommendation:
We are looking to re-buy EUR at 124.10.