EUR/USD: A short-term 1.2796 key ref was yesterday taken out and this opens for extension below 1.2740 and into the next key medium-term ref, located at 1.2661. If this wave count is correct, the medium-term 1.2445 “Equality point” should also be passed in this process. Short-term conditions will become strained already at the 1.2740 ref, so let’s take this outlook a step at the time, but with the notion that shorts are clearly favored.
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