Primary Structure: Corrective Pullback
Primary Trend: Bullish
Current Wave structure: Bullish Impulsive
Expectations: The red wave "(III)" has completed in five waves. The consolidation since its high is too overlapping and time-consuming, suggesting a triangle has unfolded in the red wave "(IV)". These bullish triangles often appear in wave "(IV)" of a bullish impulse cycle. This tells us that the devaluation of the currency is more likely to happen as we are missing the final upside move. A daily close with a decisive move above 285 may open the gates for a new all-time high. Stay vigilant.