Wave 2 bottomed at 1.0886 and wave 3 is in its infancy. We are looking for a rally towards 1.1496 in the coming days and after a temporary corrective set-back, likely close to support near 1.1170 a new strong impulsive rally is expected as wave 3 gain traction.
Longer-term we continue to look for wave 3 to make it all the way higher to 1.3993.
