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EURUSD; 1.3300 In View


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Aug 19 2014

EURUSD is trading sideways in 100 pip range which we see it as a pause within ongoing downtrend. Market never moves in straight line so corrections will always occur, and we believe that recent range is just one of them. We see pair that slowed down in fourth wave of an impulsive weakness. This fourth wave can form many different corrective patters but based on latest price action we see a good possibility for a triangle which is a continuation pattern so sooner or later market is expected to break down into fifth wave towards 1.3300 psychological level, or even to 1.3250. On the upside any rallies should be limited around 1.3410 or 1.3430.

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