Despite moving above our target for wave b at 118.93 we continue to look for wave c of an expanded flat correction starting to develop soon. This c wave will ideally see a decline to 117.24 before the next impulsive rally higher towards 123.13.
Short-term a break below minor support at 118.75 will indicate wave c being in motion.
We are looking for a EUR buying opportunity near 117.40
The material has been provided by InstaForex Company – www.instaforex.com