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Elliott Wave Analyst

EUR/USD: wave iii going to be extended

EUR/USD: wave iii going to be extended

Wave (c) of [y] was formed last week, so there’s a downward impulse in wave (a), which is taking place on the four-hour chart. Therefore, wave iii of (a) is likely going to be continued in the short term. So, we should keep an eye on 1/8 Murrey Math Level (P=200) as the next bearish target.

EUR/USD: wave iii going to be extended

We’ve got a double zigzag in wave ii, which was ended last Friday. Also, there’s a bearish impulse in wave [1]. In this case, wave [3] of iii is likely going to move on towards 0/8 Murrey Math Level (P=300).

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