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Euro Bears Are Losing Strength; Correction In View

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  Dec 02 2015

EURUSD is at the lows but it's moving very slowly so we think that price is in wave 5) of an extended blue wave (3). However, there is room for a move down to 1.0480-1.0500 area before we may see a bounce. Ideally market will recover at the start of December with three waves if we consider that wave 5) can be now an ending diagonal which suggests that current bearish leg is nearing a completion.

EURUSD, 4H



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