EUR/USD
We have entered a strong support-zone between 1.3395 and 1.3446. We could already have a bottom in place for the X-wave, but to confirm that, I would like support at 1.3469 to protect the downside for a break above 1.3524, which will confirm a powerful and extended rally higher towards at least 1.3590 and likely even higher towards 1.3662 as the next zig-zag higher develops. Long term I'm still looking for a rally higher towards 1.4256 before wave E of the major B-wave triangle could be over.
Only a break below 1.3395 and more importantly a break below 1.3323 will invalidate the possible Inverse S/H/S and add a considerable downside pressure as it indicates, that wave E ended early at 1.3832 and calls for a test of important support at 1.2756.
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