There is no change to the bearish outlook. Staying below 1.4181 keeps the trend pointed down. The series of lower highs and lows since 1.4340 may be a series of 1st and 2nd waves. Under this scenario, the decline from 1.4014 a third of a third (powerful) wave decline. It is also possible that the current decline is wave 4 of a diagonal from 1.2454 (alternate labels). A drop below 1.3747 would enable bears to move risk to 1.4014. The outlook for equities supports USD bulls also.
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