Technical summary:The correction in red wave iv is still unfolding and we are still looking for a decline to 141.70 before the next impulsive rally higher towards 146.15 to end wave (iii). Short-term minor resistance at 142.90 should protect the upside for the decline to 141.70, but only a break above resistance at 143.62 confirms that red wave iv is over and red wave v is developing.

Trading recommendation:We will still buy EUR at 142.00 or upon a break above 143.62 with a stop at 140.50.