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EURUSD situation becomes more negative

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   Since Wednesday a pair was able to go down in accordance with forecast and a level of 1.400 was broke-down and afterwards the price consolidated on a higher level, because the initial conditions was generated in the marked area of 1.3900. At the right moment upward fractal cluster generation almost completed, it develops supposedly in a form of correction. Further growth limited by the level of resistance in area of 1.4135. On H4 graphical representation we can mark out a structure that shows more preference to further corrective lowdown. The target of current lowdown allocated in area of 1.3700, it correspond to a borderline of inclined channel, and after that there is a possibility of regular price growth inside the generated range.

   On M30 graphic a price maintains on important Fibonacci levels of 1.4050. In whole we can say about completion of fractal cluster in a form of advanced Elliot wave space, but breakdown of 1.4080 can favor the growth to a next level of 1.4135, which is critical, in accordance to marking on H4 graphic - its breakdown can cancel scenario, mentioned above, and in that case uprising impulse structure will be examined, but on Monday.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst