EURUSD (watch)

The reward / risk ratio is so favorable on this trade recommendation that more aggressive traders can enter sooner on a pullback to the .382 Fib line instead of waiting for the .618 Fib pullback.  Alternately, breakout traders can wait for the high of Intermediate (pink) wave (1) to be exceeded before getting long.  Any traders still short EURUSD should be looking to close their short position during the wave (2) dip before seeking a Long position shortly after the closing of the Short position.  It appears that the bearish trend will be experiencing a bear market rally for a few weeks before the bearish downtrend resumes.