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Elliott Wave Analysis For EURUSD: Pair Turns Bearish

As expected, the EURUSD has turned down from above 1.3700 area where we labeled end of an expanded flat formation that now shows signs of completion after sharp fall down to 1.3530. Current decline is showing signs of an impulsive pattern so we suspect that EURUSD is heading south. Trend is down as long as 1.3683 remains in place.

EURUSD 4h Elliott Wave Analysis

Written by www.ew-forecast.com