EURUSD: Resumption of downtrend

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EURUSD

EURUSD is moving down in an impulse fashion. Recently it has completed wave iv after extended wave iii, thus opening the possibility of wave v on the downside which can tumble prices till 1.150 or even lower.

However, wave v can also be a failure, particularly known as truncation. So I will be bearish for this pair with the support at 1.150 and if it is broken then acceleration of downtrend will continue.

In short, expect prices to stumble close to 1.150 in near term.

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