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EUR/USD Elliott Wave Analysis
As euro’s upmove has gathered momentum after breaking recent high at 1.1025, adding credence to our bullish view that the erratic upmove from 1.0340 low is still in progress and test of previous resistance at 1.1300 is likely, however, a daily close above there is needed to retain bullishness and signal medium term downtrend has resumed and extend gain to another previous resistance at 1.1366 but near term overbought condition should prevent sharp move beyond 1.1430-35 and price should falter below 1.1500, bring retreat later. Our preferred count on the daily chart remains that a wave (II) from 1.2329 ended at ... (full story)