Euro rallied to the 1.3620/25 target zone overnight (1.3631 high) satisfying our call for a wave-ii rally. RSI momentum did not quite reach the 60 level but it is rolling over from below the bearish 60 zone. Near-term a move through 1.3588 suggests that the correction is complete and wave-iii of 3 down is underway. An aggressive target for this wave-iii decline is 1.618 X wave-i which projects to 1.3429 (symmetry between waves-i & iii yields a 1.3506 target). Selling a break of 1.3595 allows for a bear flag break; using a Stop Loss at 1.3635 and a Take Profit at the modest 1.3506 target yields roughly 2:1. Conviction: Med/High Levels: Support – 1.3595/88, 1.3576, 1.3506 Resistance – 1.3631, 1.3644, 1.3665
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