Technical summary:
Blue wave iii has extended deeper towards the 200% extension target of blue wave i. We expect blue wave iv to start any time now for correction to at least 1.5341 and maybe even slightly higher to 1.5454 before blue wave v lower takes over for the decline to 1.4966, which marks the July 2012 bottom.
Trading recommendation:
We will be looking for a EUR selling opportunity near 1.5450, once blue wave iv starts to unfold.
