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EUR/USD: Zigzag Correction; Levels & Targets - Goldman Sachs
EUR/USD price action as of late suggests that it's likely in the process of developing a zigzag correction within which it is now starting the C leg of an ABC (higher), says Goldman Sachs. The validity of this argument, according to GS, has been confirmed with the ongoing break above 1.0923 and 1.0972 (61.8% and 76.4% retrace from the Mar. 26th high). "The C leg would in turn extend through the 1.1053-1.1062 highs. Possible extension targets stand at 1.1168 and 1.1308 (76.4% and 100% from the Mar. 15th low). A zigzag ABC is a corrective move, therefore once complete will often result in a continuation of the ... (full story)
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