The EURUSD rally from 1.2886 is in 5 waves. Wave 5 slightly exceeded the 1-3 line Friday and price has pulled back as expected. Weakness is expected to extend to at least 1.3420 over the next several weeks. The EURUSD rally from 1.2886 is in 5 waves. Wave 5 slightly exceeded the 1-3 line Friday and price has pulled back as expected. Weakness is expected to extend to at least 1.3420 over the next several weeks.