Wave summary:
Wave b of red wave 2 was rerouted, but as long as support at 132.15 protects the downside, I continue to look for a little more upside in red wave 2 towards 134.02 before red wave 3 takes over for a strong decline to 126.05 and likely even lower to 119.90. In the short term, a break above 133.05 confirms the next part of the corrective move higher to 134.02.
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 4 - 2015 . Thanks for your support.
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