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Wait | 16 March 2020

16 March 2020, EUR/USD

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Wave Analysis

Euro established a support around 1.10809. and could not head to the lower side, we expect this bounce to have marked an end to the impulsive five wave cycle, that the current move to the upper side is the continuation of the corrective three wave cycle but should not go beyond the upper trend line. If you are looking at this chart now, either expect a break above the upper trend line to pick a buy or a break below the support level 1.10809 top pick a long term sell order towards 1.10450.

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Bob Stan
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