So how are the steps going?
The last move higher based at the 38.2% once again and moved to new highs. The 38.2%-50% Correction Zone comes in at the 1.2704-1.2710 now. Stay above and the longs remain in control. The shorts have not proven they can take control. Move below and the trend move may be over and ready for some consolidation.
ON the topside, should a new top be made, look for the 1.2744 level to provide some profit taking potential. The level is the 38.2% of the move down from the 2012 high.
