The correction from 1.5235 has turned into a double zig-zag. The ideal downside target for the second zig-zag is seen at 1.4876 from where a new impulsive rally towards 1.5837 remains expected. Only a direct break above minor resistance at 1.5143 will indicate that the correction in wave ii/ completed prematurely for the expected rally higher to 1.5837 and above in the longer term.
Our stop was hit. We will buy EUR at 1.4885 or upon a break above resistance at 1.5143.
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Performed by Torben Melsted, Analytical expert
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.