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Show full pictureAs it was mentioned earlier, on the EUR/USD currency pair, the fact that three tries to break out the correctional level of 61.8% have failed, attracts attention. In the result of this, the low from March 2 can be considered as the 5th wave top in the 3th (or C) of the downward trend and the EUR upward recoil, which has started, can be qualified as a transfer to quite a long correction. At the same time, it should be noticed that the ratio between the A- and C-waves is not abided practically. It lets to consider the possibility of the descendant trend renewal after ending the current correction or formation of more complicated wave structure with further transfer of the EUR to a sideways trend. Sincerely, A. Dneprovskiy, Analyst
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