EUR/USD: Technical Analysis

This pair fell quite dramatically yesterday. The move down is probably incomplete and might still have a final wave down to go. This final wave may have begun this morning after the exchange rate backed into the trend-line up from the November 30 lows. The final wave of selling could take the exchange rate down to 1.3200 before a consolidation and a rally. The rally would be expected to reach 1.3250 initially and then perhaps even into the 1.34s as it completes a 3 wave correction which probably started on December 9th.




Analysis by: Forex4you.com written by Forex4you analyst

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