“There is little doubt that the advance from .9647 is corrective because a triangle separates the two legs.
The only question is whether or not the rally from .9647 is a complete 3 wave rally or just the first wave of a larger more complex correction.” Today’s high is above 1.0527, which clouds the short term picture. We need to wait for clarity before committing to a bias. Ideally, the next idea comes from the bearish side given the 3 wave advance from .9647.