EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP)
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Published post EURUSD Elliott Wave Analysis: Correction Within Downtrend
EURUSD turned up from around 1.2850 recently where we called end of a five wave decline in wave 3, so current rally should be corrective. We know that corrections are slow and choppy which is clearly the case from the lows and back to former wave four...
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ewforecast
EURUSD is slightly down from this morning, but still only with three legs down from the highs. However, ideally current decline will unfold in five waves that would then confirm end of wave 4 at latest swing high. In that case we would look straight down to 1.2857 and much lower after a break...
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