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we're short | 25 October 2018

25 October 2018, EUR/USD

we're short

Wave Analysis

Euro is still rallying within the falling, yet contracting wedge formation. As long as the price remains within this shape formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the previous day's lowest low. This downward rally is supported by the fact that the indicator, MACD is below the 0.00 level, and as we said previously, while the columns of MACD are below 1.1375, we expect nothing but a move to the lowerside.

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we're short

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