Since my last post on May 13 (see under Currencies - Miscellaneous), we have the expected rally above 1.7998 confirming the bottom at 1.7834 (the deep 81.6% corrective target of wave i) and wave iii should now develop for a rally towards at least 1.8825 . On the way towards 1.8825 we should expect the top of wave i to cause some hesitation, but it should only be a minor hurdle on the way higher.
Longer term (see the chart below) I'm looking for a rally towards the 38.2% corrective target of the decline from 2.7100 down to 1.4405, which comes in at 1.9359.
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