EURUSD is in a nice downtrend from 1.4000, but latest fall to a new low is fifth wave, final leg of a strong bearish impulse so pair could be looking for some reversal in coming weeks. Ideally a three wave rally is already underway, but we still need 1.2600 breakout to confirm larger recovery for EURUSD, which we think that sooner or later will show up, probably at the start of 2015. A bullish divergence also suggests that bounce is coming.
EURUSD Daily Elliott Wave Analysis
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