Commentary: There is no change to our call for lower prices. Ultimately, price could extend as low as the 161.8% extension of 1.1894-1.1599/1.1785 at 1.1308.” Wave iii of 5 is underway now and the larger bearish bias is strong as long as price is below 1.1785.
Short term, price below 1.1640 keeps the bearish bias intact. Until we see a 5 wave rally to signal a turn, we wll remain bearish.
Strategy: Bearish, against 1.1640, target 1.1350