EUR/USD has clearly broken below the 1.10 support and this is really very important from a technical perspective, notes Goldman Sachs. "It was more than just a psychologically relevant pivot. This 1.10 support area also acts as the minimum target for wave 5 of a 5-wave sequence that began in May. This 5 th wave should in theory be either 1.00, 1.618 or 2.618 the length of wave 1; - 1.00Xs measures out to 1.1041 - 1.618Xsis down at 1.0737 - 2.618Xsis the final target at 1.0245," GS clarifies. "Bottom line, now that 1.10 is breaking, the next two levels to focus on are 1.0737 and 1.0245," GS argues. However, GS thinks ... (full story)