The final e wave of the B-wave triangle we have been tracking lately ended early at 101.60 and wave C higher towards 107.73 and maybe even higher towards 110.71 is developing. Short term the former triangle resistance line, which has now turned into support will protect the downside for a move above 105.22 towards 107.73 and maybe higher.
Only an unexpected direct break below 103.07 will turn the picture bearish, but this is not a likely scenario.
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