The complex correction in wave iv/ continues to dominate the picture here. We continue to look for c/ of iv stretching a bit higher towards 127.94 before completing wave iv/ and turning lower to just below 124.89 to complete wave v/ of C of ii. Once this very complex correction in wave ii is complete a new impulsive rally is expected in wave iii. The impulsive rally in wave iii should ultimately break above 131.99.
At no point can a break below 124.59 be accepted under this count.
We are long EUR from 126.25. We will raise our stop to 125.50. We will take half profit at 127.40 and wait for a new buying opportunity at 125.15.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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