EURUSD: With the move below 1.2614 the correction case evaporatedand the pair fell impulsively lower with the biggest single dayloss since Sept 04. As often is the case with benchmarkcandles the market normally makes an initial move in thebenchmark candle’s direction only to thereafter begin areaction back to the mid body area. If following that rathernormal pattern a recheck at least a bounce to 1.2592 seenwithin shortly. A continued decline without any reaction willnext target 1.2398, the 261.8% projection point for wave 3.
Read the full report: Technical Alert