EUR/USD has corrected as expected and is close to completing sub-wave iv. We still need EUR/USD to move a little lower and closer to our ideal target near 1.0470, but we are in the final stages of this corrective wave and should soon see wave v take over for the next rally higher towards 1.0927 to complete wave v/ and 3.

Longer term, we are looking for much higher levels for EUR/USD, but as always we suggest taking things in baby steps. For now, we expect a final dip to below 1.0519 and ideally closer to 1.0470, but all we need is a dip below 1.0519 to fulfill all requirements for wave c/ of iv/ and to set the stage for wave v/ higher to 1.0927.