As can be seen at the chart above, this cross has been in a major uptrend since at least early 2006 (I don't have data longer back than that). I think we have seen a major triple zig-zag rally, which has just topped at 3.2729. I will now be looking for a major corrective decline towards at least 2.3700.
Looking at the C wave of Z wave 5 ended slightly below the 100% of the distance traveled from the bottom of wave 1 to the top of wave 3 added to the bottom of wave 4. This indicates, that the first target likely will be found in the 2.76 - 2.82 area, but longer term we should expect a decline towards at least 2,3700.
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