Euro 5 Waves Up Points Higher

[B]Commentary[/B]: We are abandoning the bearish stance now due to the 5 wave rally from 1.3261-1.3437. A small correction may be happening now, but support should be strong near the previous 4th wave at 1.3383.

We wrote in a special report two weeks ago that “1.3264 holds and price rallies back to 1.3392, then we would switch to the alternate count which has an ending diagonal unfolding from 1.2482.” That is what we are doing now. We expect a test of 1.3680 before a larger turn lower.

[B]Strategy[/B]: Bullish, against 1.3261, targeting 1.3680