[B]Commentary[/B]: Our count is tracking well so there is no reason to change our outlook. “The push through 1.3437 signals that wave iii, of a 5 wave rally that began at 1.3261, is underway. An objective is 1.3656, the 161.8% extension of 1.3261-1.3437/1.3371.”
Be careful at 1.3550, which is the 100% extension of 1.3261-1.3437/1.3371 and the 6/5 high (1.3552). While we are looking for a test or a marginal break of 1.3680, we are expecting the next big move to be down towards the mid 1.2000?s.
[B]Strategy[/B]: Bullish, against 1.3414, targeting 1.3656