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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