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EURUSD: Final Stages Of Downtrend!?


Nov 13 2012

EURUSD could be in final stages of a five wave decline in wave C) from 1.3140, that represents part of a corrective wave (B) started back in September. Wave C) is still not showing any sings of a bottom, but based on MACD reading we see that bearish momentum is decreasing, so low could be near. We however expect test of a new low, around 1.2650.

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