We are looking for a second dip in the correction from 122.50. Previously we expected a corrective dip to 121.34. However, we will likely only see the second dip. The pair may sink just below 121.78 before the next impulsive rally to 124.43 and above occurs.
A break above 122.50 triggers for the next impulsive rally.
R3: 122.73
R2: 122.50
R1: 122.25
Pivot: 122.06
S1: 121.85
S2: 121.75
S3: 121.43
Trading recommendation:
We will buy EUR at 121.80 or upon a break above 122.50