Blue wave (iv) extended to the 61.8% corrective target of blue wave (iii) at 1.6518 and blue wave (v) is currently developing for a decline towards 1.6425 Once blue wave (v) is over it also marks the bottom of red wave (iii), which should be followed by a shallow red wave (iv), but for now we should concentrate on blue wave (v) towards 1.6425.
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