As the tensions near the Ukraine bonders deescalated yesterday we saw the safe-haven currencies, oil and gold weaken. The stock market slightly rose. EUR/USD dipped close to the 1.1260 target and could be close to completing its correction from 1.1487. It is ready for the next strong rally towards the long-term target for wave 3 near 1.3993.
In the short term, we must allow for EUR/USD to dip to 1.1260 before bottoming and start the next impulsive rally higher.