Change of the long-term count
As the former low at 1.1950 is close to being broken, I have reviewed my previous long-term count and find it appropriate to change the count.
Under this new preferred long-term count, wave B is still in motion and calls for a final dip closer to 1.0842 before completing wave B and setting the stage for a new impulsive rally in wave C towards 2.0178 and likely above here too.
A break below 1.1950 will confirm this new preferred long-term count. Even-though more downside is expected, it's important to be aware that this is the final dip in the long-term decline from 2.1166 and all that's needed is a break below 1.1950 to fulfill all requirements to the decline in wave B. So ride this decline with care.
