I'm long on this since the break of wave 1. There's a positive correlation between EURCAD and EURAUD, that's why I believe EURAUD (another pair) will continue the upmove, with all the other reasons stated on that chart. This retracement seems to be over, though if EURAUD continues down, I'll exit this one in profit as the correction will continue down, passed the 61.8 it already did.