In both of EUR/USD, and AUD/NZD there are now 5 waves completed across different timeframes, notes Goldman Sachs. Starting with EUR/USD, GS notes that there are now 5 waves in place since the May ‘14 high and as such the current correction could be viewed as a minor 5-wave sequence which started at the Apr. 13th low. "The minimum target for that 5 th wave comes in at ~1.1395 (1.00 times the length of wave 1). Through that point, the next level higher will be all the way up at 1.1598 (1.618 times the length of wave 1). This latter pivot is particularly interesting as it’s also confluent with the primary downtrend from ... (full story)