(Please click at the chart to see it better)
EUR/USD:
It seems as wave v of 1 fell a Little short of its ideal target at 1.3533 and wave 2 is developing.
The minimum correction I will be looking for is near 1.3683, where wave 2 will have corrected 38.2% of wave 1 and it's also close to wave (iv). However, we could see a correction higher towards the 61.8% corrective target at 1.3764 and it may even correct more of wave 1 as wave 2 are allowed to correct 100% of wave 1.
Short term I would like to see support at 1.3587 protect the downside for a new high above 1.3622, which will leave us with a small five wave rally of the 1.3554 low and indicate, that we should be looking for a zig-zag correction or a combination of zig-zags.
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