Euro Objectives Clustered at 2008 Low (12330)
There is no change to my outlook for additional EURUSD weakness over the next several weeks. However, there is a change to the extent of the weakness. A new low would potentially complete 5 waves down from 13822, which in turn would complete 5 waves down from 15150. There is a cluster of Fibonacci objectives in the mid 12300s, which is also near the 2008 low (12327). A triangle may be forming now as small wave iv – move risk to Monday’s high.
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