Yesterday, Euro continued to move to the lowerside and is still showing signs of continuing to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and will see the price accelerate towards 0.96 and will continue much lower. If you are looking at this chart right, you should keep looking for long term sell positions expecting a break below the level mentioned above towards 0.8. On the flipside, if the price breaks and closes above the two moving averages, then we will be expecting a possible rally much higher towards 1.04410.
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