The rally from 1.9337 to 1.9957 is a 5 wave advance and is probably wave A within the A-B-C corrective rally. Wave B has unfolded as a double zigzag complex correction and is probably close to complete now. In fact, wave Y of the zigzag is equal to wave W of the zigzag near current price. Equality within a zigzag is common. Considering that we expect a much larger correction of the 2.1160-1.9337 decline and that the advance from 1.9337 is in 5 waves, a cautious bullish position is warranted.
Strategy: 50% Long triggered at 1.9445, against 1.9335, target 1.97/1.98
