[B]Commentary:[/B] We wrote yesterday that "the 5 down? means that at least one more 5 wave decline is likely to occur. The correction from 1.3773 may extend higher, but should be contained by the 61.8% of 1.3832-1.3773 at 1.3809.
An initial bearish target is 1.3700. The form of the decline will alert us to the bearish potential." The bearish count remains on track as the rally from 1.3752 unfolded in a corrective 3 waves and 1.3832 remains intact. Coming under 1.3786 instills confidence in the bearish bias.
[B]Strategy:[/B] Remain bearish, against 1.3832, target 1 at 1.3700, target 2 TBD