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EURUSD: Waiting for the Euro to Give In

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Last week we expected the euro to start falling again, which was exactly what happened. Price came crashing through our confirmation point, and then continued downwards to come 33 pips short of reaching our first target. This price drop occurred in 5 waves, which strongly confirms our view that the downtrend is back in play. But as we know by now, every completed 5-wave sequence needs to be countered by a corrective move in the opposite direction, which is what we expect to see during this

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