We saw a test of resistance at 140.67 yesterday, but it failed to break above. That could prolong the correction in blue wave ii and call for another downside test of 138.90 before a new attempt to break above resistance at 140.67.
Only an unexpected break below 137.94 will question the upside for now and call for a move lower to strong support at 136.94.
We are long EUR from 138.10 with stop placed at 138.75. We still recommend buying EUR near 139.37 with a close stop at 138.75.
The material has been provided by InstaForex Company – www.instaforex.com