Euro To Challenge 1.3680

Commentary: We wrote Friday that “we are expecting wave 4 to end somewhere near 1.3528/49, which is the former 4th wave and the 38.2% of 1.3371-1.3659 (wave 3). Wave 5 is expected to exceed 1.3680 before a longer term reversal takes hold.”

The bottom was put in at 1.3568 and the EURUSD is back above 1.3600 now. There is no change to our outlook for a new high (above 1.3659 and then 1.3680) before the longer term reversal.

Strategy: If already bullish, remain so as long as price is above1.3568.