Elliott Wave Analysis: EURUSD Trading Near Potential Support

Price looks to have been trading within a triangle correction of a lower degree wave iv), that caused a drop down into a fifth wave, to 1.1660 level that we highlighted it as potential support. Market turned up slightly on Friday from that zone which may lead to more euro recovery, but for an important uptrend continuation we still need an impulsive reaction of a higher degree up to 1.1850/70.

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