Our last forecast included a call for a wave-4 correction ahead of new cycle highs. The Euro is still tracing a shallow, bull flag correction above the 38.2% retracement at 1.3476. Once the correction completes the target for wave-5 of (3) is between 1.3608 & 1.3647; the former offers a 1.618 relationship between waves-(1) & (3), the latter is a symmetry target where wave-1=5.
S/t, resistance is 1.3519 followed by the recent high at 1.3569. Critical support is between 1.3476/47 where hourly uptrend and Fibonacci support align, Expected range for today is 1.3476 to 1.3569.
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Nomura