Today's Support and Resistance Levels: 

S1: 100.10                    R2: 100.46

S2: 99.63                      R2: 101.05

S3: 98.98                      R3: 101.41

Technical Overview:  

The falling wedge ended yesterday with a low at 99.63 and we should now look for a break above minor resistance at 100.46 as the first good indication that the bottom is in place, while we need a break above resistance at 101.05 to confirm the bottom. Once we break above resistance at 101.05, our focus should turn towards the possible targets for wave 5. The first target comes at 104.54, but we think it is more likely that we will see wave 5 ending near its second target at 105.69.

However, as long as resistance at 100.46 and more importantly 101.05 has not been broken, there still is a risk for a break below 99.63, but we rate this possibility as very slim.

Trading Recommendation:

You should be long EUR from 100.20 with at stop at 99.45. If you are not long EUR already, you can buy EUR upon a break above 100.46 or even more safely upon a break above 101.05 with the same stop.