The rally has turned ferocious, shredding targets and creating new impulse legs on the daily chart with ease. A modest rally to above 3.280 will create yet another, adding weight to the prospect of more upside in the weeks to come. I’ve projected a minimum target of 3.5545 using an “inverse” pattern as shown. These patterns work some of the time, but I don’t recommend initiating trades at their predicted swing points unless the target is corroborated by a stall precisely at the CD midpoint. In this case, that has not occurred.
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