With a perfect decline to the 38.2% corrective target of wave ( iii
), which at the same time proved to be the bottom of red wave iv of one lessor degree, the odds for wave (iv) being over are high. I will buy EUR upon a break above 107.46 with a stop at 106.70 for a target at 111.06. We could see a move even higher to 112.07.
I think this trade does offer a very nice Risk/Reward potential