As long as minor support at 134.83 protects the downside, we will stay cautiously bullish for a break above resistance at 136.38 and more important a break above resistance at 137.80 confirming a continuation higher to 141.06 and 144.03.
To alter the bullish count a break below important support at 133.27 will be needed, but a break below here will leave us with a three wave rally from 126.05 and call for a new decline to this low.
We are long EUR from 134.07 and will move our stop here to 134.75. If you are not long EUR yet, then buy EUR upon a break above 136.38 and use the same stop at 134.75.
The material has been provided by InstaForex Company – www.instaforex.com