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EUR/USD - More Downward Pressure?

Posted on February 2, 2010 at 5:11 in Uncategorized by Ross Yamashita

Greetings.

Pulling up the EUR/USD, we see a nice downtrend forming - but will it continue?

Look for a potential 3 wave retracement starting from the low just above the 1.3850 area. Once the 3 wave retracement is complete, we’ll potentially see another downward movement.

Keep in mind the overall trend is still showing down so trade any retracement with caution.

Targets to the down side show a potential 1.3600 area and below.

Good luck and happy trading.

Tags: Currency Trading, Elliott Wave, Forex, FX, Pro Pipper Trading, Ross Yamashita

One Response to “EUR/USD - More Downward Pressure?”

  1. on 04 Feb 2010 at 12:57 pm1Santos

    Ross, please forecast GBP/USD pair. I want to hear your opinion about this pair.

    Thanks,

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