Since my last update on May 24, we have seen a sideways consolidation in what seems to be a b-wave triangle. That of cause means that the road-map I put up has to be changed a bit, but the overall outcome will be the same. I'm still looking for an immediately breakdown if form of a break below 130.19, which will call for a decline towards at least 128.25 and more likely a continuation down to 125.87. As the road-map has been changed we will have to accept the possibility of a much more complex correction unfolding from the 133.81 high, but only time will show how we get down to 118.73.
Once resistance at 1.6040 was overcome we saw the expected acceleration higher and there should be much more to come. We are currently close to the top of green wave iii, which is expected to come in at 1.6418, but after a small correction down to 1.6205 we should see the next swing higher to 1.6481 and beyond. However remember, that we are in wave iii of 3 and correction tend to be small and even sub-normal so don't expect to much in form of the corrections.
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