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Elliott Wave Charting: Down-trend in process

TheLFB Trader Advantage Detail

Elliott Wave Charting: Eur/Usd

Eur/Usd has dropped 300 pips since the 1.3817 highs were established in the past week. The decline from that high has an impulsive structure which means it is a part of a larger down-side move. This looks to be the move of a blue wave (5) that is headed into new lows, belowthe  1.3434 wave (3) bottom.  In the near-term, a small upside corrective move should not be a surprise, before further weakness is shown.

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TheLFB EurTheLFB Charting: Eur/Usd 4h ciew

 

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