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Elliott Wave Analyst

EUR/USD: extension in wave iii going to move on

EUR/USD: extension in wave iii going to move on

Wave C was ended last week, so we’ve got a pullback from 6/8 Murrey Math Level (P=200). Therefore, the price is declining in wave [a]. The main intraday target is 3/8 MM Level, which could be a departure point for an upward correction.

EUR/USD: extension in wave iii going to move on

We’ve got a “Diagonal Triangle” in wave v of (c), which led to form wave i. So, there’s a possible bearish extension in wave iii. Under this circumstances, the market is likely going to reach 4/8 Murrey Math Level (P=200).

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