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Wait | 09 January 2020

09 January 2020, EUR/USD

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Wave Analysis

Few days ago, the impulsive wave (c) continued to the upper side but could not break above 1.12440. As long as the price fails to break above 1.12440, we are expecting sellers to come in, we expect a possible momentum to the lower side, we expect a possible momentum towards 1.08740. The anticipated bearish price rally is the continuation of the impulsive five wave cycle and could continue even lower towards 1.0800 towards 1.0712. This view will only be rendered futile in case the price breaks and closes above 1.12440.

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Bob Stan
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