We were stopped out on the drop below 1.9811 (price nearly touched 1.97 this morning) but we remain bulls. The alternate count moves up to preferred status. We are counting the rally from 1.9361 to 1.9946 as 5 waves (truncated) and larger wave 1 of C from 1.9361. The current decline is wave 2 of C and it appears that a drop below 1.9719 is required in order to complete the corrective decline. The 1.9615-1.9707 zone is former congestion and a potential support zone. The 50% of 1.9361-1.9946 is in the middle of this zone, at 1.9653.
STRATEGY: Look for longs in 1.9615-1.9707 zone, against 1.9361, target is probably near 2.04/05.
