EUR/USD: Late stages of a big corrective decline [Video]
|EUR/USD is coming to the downside, and hit 1.04 as expected, after breaking below October 2023 low. We have seen some sharp move down at the end of last week, which clearly shows how weak the EUR/USD really is. However, we see ongoing bearish impulse, ideally its wave C on a daily chart so even this bearish cycle will come to an end at some point, maybe already in December. But firstly we need to have a completed five wave drop on 4h time frame, where most latest data suggests that there can be more downside after the current rally up in 4. Resistance is at 1.05 and 1.0598. The invalidation level is at 1.0764; moving beyond that figure would be very important bullish reversal for the euro.
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