Short

EURUSD

EURUSD: On larger time frame we could clearly see a wave pattern (123) which suggests EURUSD could potentially retrace to 1.15000s. The pattern has been very symmetrical since the start of May with 2 corrections of very similar depth and 2 rallies of very similar magnitude. Momentum is now showing some divergence ahead of good resistance around 1.1800-20 similar to what we saw at the 1.1422 peak in early June, suggesting the danger of another correction in the trend-possibly towards 1.1550

lawrence14198

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