We are still of the camp that the rally from 1.5342 is wave B within an A-B-C correction from 1.5904. These are the reasons why. The previous bull leg was a 5th wave that broke from a 4th wave triangle and triangles lead to terminal thrusts.
Wave B would equal 127% of wave A at 1.6055 and 138.2% of A at 1.6118. These are potential reversal points although a reversal could happen at any moment. We will have a special report on the EURUSD later today with monthly, weekly, daily and short term charts.