Wave summary:
Wave b of red wave 2 has turned into a triangle. It should just be a matter of time before the final rally higher to 133.64 or even slightly higher to 133.92 before red wave 2 is over and red wave 3 will take over for a decline to 125.99 and 119.90.
Only a direct break below support at 132.16 indicates that red wave 2 already is over and red wave 3 lower is developing.
Trading recommendation:
We will sell EUR at 133.85 or upon a break below 132.16 (one order done cancels the other).
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for November 3 - 2015 . Thanks for your support.
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