A correction in wave ii has taken more time than first expected, but nothing else has changed. We are still looking for a break above resistance at 1.7866 to enable a rally towards at least 1.8288 and most likely even higher to 1.8682 in wave iii.
Ideally, support at 1.7702 will be able to protect the downside for a breakout above 1.7866.
We are long EUR from 1.7490 with stop at 1.7620. If you are not long EUR yet, then buy on a break above resistance at 1.7866 with stop placed at 1.7700.
The material has been provided by InstaForex Company – www.instaforex.com