EURUSD: The minor bear flag (following the exit of the larger one)finally came to an end yesterday and did so in vigor printinga bearish key day reversal. Today’s violation of the 1.2605key support has further enhanced a bearish view (and sodoes the fact that the Oct correction more or less has takenthe shape of a head and shoulders top (with a theoreticaltarget at 1.2322). The market will now trace out a new lowbelow the prior 1.2501 one.
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