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Elliott Wave Analyst

EUR/USD: the third wave going to move on

EUR/USD: the third wave going to move on

The market has been falling down since a pullback from 6/8 Murrey Math Level (P=200) happened. So, we’ve got a bearish impulse in wave iii of (a). Therefore, the price is likely going to reach 1/8 MM Level in the short term.

EUR/USD: the third wave going to move on

As we can see on the one-hour chart, there’s an extension in wave iii. However, if we see a pullback from 2/8 MM Level (P=400), there’ll be an opportunity to have a local correction. Nevertheless, bears are likely going to deliver wave [5] of iii later on.

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