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Wait | 02 September 2022

02 September 2022, EUR/USD

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Wave Analysis

Yesterday, Euro rallied to the lowerside but failed to break below the lower trendline. As long as the price does not clear break and close below the lower trendline, we are waiting for a rebound from this level to pick a possible long term buy position towards the upper trendline. On the flipside, should the price breakout below the lower trendline, then we expect a possible extension of the last impulsive wave (5) towards 0.89.

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Bob Stan
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