Wave (iv) over. Look for a rally to 111.06 in wave (v)

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