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EURUSD continues to fall after the earlier breakout of the support trendline of the daily up channel from September (which encloses the previous short term impulse wave 1). The breakout of this up channel accelerated the active downward correction 2. Given the rising bullish USD sentiment seen across the FX markets today, EURUSD is likely to extend the losses toward the next support level 1.17000 (target price for the completion of the active corrective wave 2).
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