We have tracked this decline since the top of red wave ii on April 28 at 1.5306 and this count has worked to absolute perfection. Now we are just about to hit the first target for red wave v at 1.4313. This a nice decline of 926 pips at todays price at 1.4380. Many investors will not even be able to make this profit in a year.
We can count five clear waves down from 1.5586 and it will just be a matter of time before a correction towards at least 1.4730 takes over.
Short term a break above 1.4435 will be the first warning that a bottom could be in place, while a break above 1.4501 is needed to confirm the bottom for wave 1 and that wave 2 towards at least 1.4730 is unfolding.
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