Commentary: The last few days we have focused on the idea that wave 5 is in progress towards 1.5000. Given that waves 1 and 2 (roman numeral) of 5 could be complete, the bullish count is favored. However, we are proposing an alternate.
A larger A-B-C could be unfolding from 1.4751. The rally from 1.4520-1.4724 might be wave B of that correction; meaning that wave C would be underway now.
Strategy: Flat