The break from the first target of 1.1225 after hitting the long term target of 1.0838 could only get 23.6% back of the current rally at 1.1110. You can now use 1.1225 as the DSP and the next target is a combination of retracements between 1.1450 and 1.1470, this is 61.8% back to the 9/24/2018 high and 38.2% of the 1/25/2018 high. It will be this area that they will have to have a couple solid closes above to say a much longer term bottom is in and if so, our long term target of 1.2200 remain possible. On break from 1.1450, or a close back below the 1.1225 DSP look for a retest of the recent low.

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