With a low at 126.11 we did see a very slight break below my target at 126.15, but the following rally has broken above the bottom of wave i at 129.41 and therefore it can not be wave iv of c. Therefore I have changed my count slightly to a finished wave c and w at 126.11 and we are now in a x-wave towards 130.36 and possibly even 130.88 before the next decline towards my major wave 2 target near 118.73. Short term I'm looking for support in the 129.10 - 129.20 range for the rally higher to 130.36 and possibly even 130.88 before the next decline set in. A break below 128.79 confirms that the x-wave is over and the second zig-zag correction has begun.
EUR/NZD
The wave 3 rally just keeps moving higher and higher. We most likely ended green wave v and blue wave iii at 1.6687 and after the a very small a brief blue wave iv we saw the next move higher in blue wave v, which when it ends near 1.6921 or maybe even first at 1.7053 only will end red wave iii. As I said trying to sell EUR looking for a deeper correction could easily leave you with a loss and no chance to get onboard the train higher again. Short term I'm looking for support at 1.6726 and 1.6678 to protected the downside for the rally higher towards 1.6921 and 1.6961 as the next small targets.
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