Today's Support and Resistance levels:

R3: 1.6368

R2: 1.6316

R1: 1.6265

Current spot: 1.6231

S1: 1.6185

S2: 1.6123

S3: 1.6090

Technical overview:

Green wave iii ended a little earlier than we expected and green wave iv became a little deeper than expected, but that does not change the overall picture, that more upside is coming. As the target for green wave v and only blue wave iii we are looking for 1.6452 and possibly even 1.6530 before blue wave iv takes over for a minor correction. As blue wave ii was a deep and quick, we should expect blue wave iv to be shallow and it will take more time, but our main focus should be towards the upside, as we are in the middle of wave 3 and, even though, it is difficult to foretell what will hapen with corrections, they tend to be minor or even sub-normal.

Trading recommendation:

We are long EUR from 1.5790 and will keep our stop at 1.6090 for now. If you are not long EUR already, then buy near 1.6186 or upon a break above 1.6244 with the same stop.