is in a long term corrective retracement in a abcXabc pattern. The last c wave is an impulsive one and could extend to the 1.11-1.12 price level. This the result of the last AB fibonacci extension
with the 100% key level (A=C). It is interesting to note that if price achieved 1.11 by june 2015 we would get an AB-CD harmonic pattern
which is a reversal figure.