Commentary: The rally from the low (.9784) has carried a bit more than expected for a small 4th wave. With this in mind, the possibility that a rather significant low is in place at .9748 needs to be considered.
The correction that occurred before the drop from just above 1.0000 may have been a running triangle in the 4th wave position. If this is the case, then it is possible to count 5 waves down from 1.0002, which is enough evidence to say that the terminal thrust from the triangle is complete. Additionally, the rally from low can be counted as an impulse (shown on the 15 minute today). A setback in 3 waves would warrant a bullish bias against .9784. Strategy: Flat