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EUR/USD: Elliott waves (June 2)

By Roman Petuchov

Weekly. The wave [D], which is part of convergent horizontal triangle, is complete. At the moment we are seeing a decline in the correctional wave [E] of B.

Chart. Weekly EUR/USD

Daily. We are seeing the construction of the first downward impulse of a new corrective trend. The most important task for the near future is to determine the point of completion of the downward momentum and the beginning of correction.

Chart. Daily EUR/USD

H4. The wave [1] is fully equipped with waves of junior level. Most likely, the construction of correction [2] has already begun. In the coming days we’ll see the upside correction.

Chart. H4 EUR/USD

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