EURUSD downtrend channel upside resistance rejection
EURUSD has been rejected from 1.0350. This is a downtrend channel formed by the impulsive 5 waves lower which is leading to 0.9500-0.9600 target zone. A break below 1.02000 will now lead to a downside acceleration and the downside extension confirmation. It will also mark the fourth wave upside correction end and a start of the fifth wave extension lower.
Note: look for the short trade entries with the stop loss above 1.03000
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