We are currently seeing a sideways consolidation, which is most likely a wave 4 and once it's over we should see wave 5 move higher. As the minimum target for wave 5 I would look for 114.95, but I think it's more likely that we see a continuation higher towards 121.15. Only a break below 97.15 will invalidate further upside Progress.
I quick followup on this cross as we have moved higher and because Paulina would like me to update it.
As long as important support at 0.8091 protects the downside we should be looking for a continuation higher towards 0.8250 where we will find the first cluster of resistance. However we could even see a move higher towards 0.8303 and its extreme higher yet towards 0.8360, but I think that is less likely.
However, once we break below important support at 0.8091 we know that wave C is over and a new impulsive decline towards 0.7716 and lower should be expected. But for now we just need this last move a Little higher towards 0.8250 before the downside pressure should begin to mount.
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