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Elliott Wave Analyst

EUR/USD: wave [i] going to end

EUR/USD: wave [i] going to end

Wave 4 has been ended in a form of a “Double Three”, so we’ve got a pullback from 4/8 Murrey Math Level (P=200). It’s likely that we’ve got wave [i] in progress, which main target is 2/8 Murrey Math Level. If we see a pullback from this level, there’ll be an opportunity to have an upward correction.

EUR/USD: wave [i] going to end

As we can see on the one-hour chart, the price has been declining in wave [i]. Therefore, bears are likely going to reach 4/8 Murrey Math Level in the short term. If wave (v) finishes at this level, bulls will probably try to deliver wave [ii].

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