We are sticking with the bullish count until it is proved wrong. What would prove it wrong? 5 waves down from 1.4757 would turn us bearish. Until then, we are bullish. The drop from 1.4757, although sharp, is in 3 waves and could be a 4th wave correction. Support has come in near the former 4th wave extreme and 38.2% of 1.4482-1.4757. Price is also supported by an unorthodox trendline. A rally through 1.4757 would complete 5 waves up from 1.4438.
STRATEGY: Bullish, against 1.4531, target mid 1.50s
