Hi Everyone, As you can see from the attached chart the pair continues its bullish posture. We continue to retrace the bearish cycle trend with wave c of the three wave retracement currently forming. Wave c usually extends to 1.618 (golden number) of wave a. As mentioned above, we are currently in an Elliot Wave Cycle meaning it usually lasts for a minimum of one year but can last for several years. All this being said, the current wave c should complete around 1.4222. It is here that we should see wave 3 of the cycle downtrend start. This will be a five wave impulse move lower and should be 1.618 (or greater) of wave 1. If all holds true, this will be the total of wave 1 and wave 2 (1 + 2 = 3). This is of course a perfect world scenario, possible but who knows for sure! I will not give that projection yet as wave 2 is still in progress. Safe to say though, that it should bring the pair back to 1:1 or slightly below that level depending on where wave 2 (a,b,c retracement) finally concludes.