Following Fullys excellent chart earlier, I thought I’d see how we’re doing from a time point of view. This currency pair has a very reliable cycle (trough to trough). Each cycle low has coincided perfectly with the ratio making it’s low. The time taken from that point to the cycle high has been varying from 2.5 to 4 years. At the moment, we’re 2.3 years from the last cycle low. That gives us at least another couple of months, unless we’re getting an even shorter time span from low to high. Based on the average though, this should resolve upwards at this point in time.