Commentary: We were correct in flipping to a bullish stance on Friday near 1.4650. There is still a slight possibility that a triangle is unfolding as larger wave 4 from 1.4966 but the surge from 1.4640 is characteristic of a 3rd wave. In this case, the advance would be a 3rd of a 3rd wave (of larger 5). The bullish bias is strong as long as price is above 1.4569. Measured objectives are near 1.5200/1.5300.
Strategy: Bullish, against 1.4569, target TBD
Al Bawaba
