Minimum expectations are for the advance from 1.9409 to continue until at least 1.9850.
The rally from 1.9409 unfolded as an impulse, which inspires confidence in our bullish count. We wrote yesterday to “look for support near 1.9600/25. A short term correction should unfold in the next day or two. This will be the opportunity to get long.” A decline has commenced but it is unclear whether it will prove corrective. Given the count in the EURUSD, a bullish bias is warranted against 1.9409.
STRATEGY: Get bullish near 1.96, against 1.9409, target above 1.9850