During the previous trading day, Euro continued to traded within the falling wedge formation and is still pretty much bearish both on the daily and the weekly charts. As long as the price is within the falling wedge formation, we expect the current five wave cycle to extend to the lowerside and should break below 1.14671 and should break below 1.10 or even lower. If you're not in a short position already, you could wait for a pullback towards the upper trendline to pick a long term short position with an ultimate target at 1.13382.
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