EURUSD: The decline has during the past days been running onfumes. With all targets for this down cycle (July – now) met,a severe stretch (outside the 233d Bollinger bands) and withan hourly bull divergence we see yesterday’s price action asthe first step towards an upward correction. The correctionwill at least test the prior support zone, 1.3209-1.3295, nowacting resistance but a move up to the triangle peak, 1.3433,should certainly not be ruled out at this stage.
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