As FED has started its tapering (only buying for USD 75 billion per month now), they produced a little Market hick up. That meant a small new high for wave 2 at 1.3811 followed by a nice sell-off. The decline from 1.3811 does look impulsive, but we still need a break below 1.3621 and more importantly a break below 1.3524 to confirm the above Count and that wave 2 is indeed in place at 1.3811 and that wave 3 lower towards at least 1.2741 is developing.
It's still only a break above 1.3832, that invalidates the above Count and indicates, that wave E is still ongoing for a continuation higher towards 1.4247
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