We maintain a bullish bias against 1.5300 but ideally price remains above 1.5464 (yesterday’s low).
The rally from 1.5303 to 1.5552 (last night’s high) is in 5 waves, which we believe serves as wave i of the next 5 wave cycle. A small second wave ended at 1.5464. If this count is correct, then wave iii is underway now and price will remain above 1.5464.
STRATEGY: Bullish, against 1.5300, target above 1.5843
