We have seen a small five wave rally from the low at 1.0519 to 1.0834, well above the reflex point at 1.0759 to confirm that a firm bottom is in place an more upside pressure is to be expected once we have seen a correction in wave ii of 3. The target area for this correction is in the 1.0639 - 1.0677 with 1.0639 as the ideal target. Not alone is 1.0639 the 61.8% corrective target for the rally from 1.0519 to 1.0834, but it also marks the bottom of red wave iv of one lessor degree.
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