In Euro we are focused on pinpointing the wave-5 of (3) low. Although there are targets still lower near 1.3080, a case can be made that a 5-wave decline from 1.3412 to 1.3153 has marked the final leg in a larger cycle from 1.3698. (hourly) If the wave-(3) sell-off is complete then a sharp wave-(4) correction would follow (sharp in contrast to wave-(2) timely sideways range). Initial targets for wave-(4)’s are always the area of the previous 4th wave of one lesser degree; that range is 1.3333/3433. We can further hone in on the 1.3350/60 zone where other common wave-(4) targets align. (daily) Conviction: Med/High Levels: Support – 1.3150, 1.3082, 1.3041 Resistance – 1.3215, 1.3242, 1.3297
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