The current USDCNH structure suggests that the cycle degree triple zigzag w-x-y-x-z completed and markets have reversed into a bullish trend. This primary degree 5-wave upside consists of waves ①-②-③-④-⑤. With waves ① and ②fully completed we can now expect intermediate wave (1) of ③ to take place. As part of (1), we can expect to see the last minor degree wave of the impulse move. The minor wave 5 is unlikely to end with a truncation, so, at any level above the previous high, we could since the termination of the 5th wave. Any 5-wave structure, however, can have any of its impulse waves extended, and this brings ... (full story)