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EUR/USD Could Make A Drop Lower

EUR/USD Could Make A Drop Lower

EUR/USD traced out a flat pattern in the corrective pullback in blue wave ii, which seems completed and that is why we are looking lower. Possible bearish run in wave iii could follow. Let’s wait and see.

EUR/USD, 1H

EUR/USD Hour Chart

A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern

Basic Flat Pattern:

Basic Flat Pattern

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