[B]Commentary:[/B] As mentioned last week - "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.
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." The pair is pressing against 1.3600 so there is no reason to change our outlook for a test of 1.3680. Expect some consolidation in wave 4 today or tomorrow before a rally to a new high (above 1.3680). The mentioned reversal is expected though.
[B]Strategy:[/B] Bullish, against 1.3414, targeting 1.3656