EUR/USD recently reached the sell target 1.3600 that was set in our earlier forecast for this currency pair. The price previously broke the lower support trendline of the daily up channel from July of last year.
The breakout of this up channel accelerated the (c)-wave of the latest minor corrective wave 2 from the middle of March – helping the pair break below the sell target 1.3600. EUR/USD then corrected up shortly to the resistance zone near 1.3700 – from where it resumed the downward movement. EUR/USD is expected to fall to the next sell target at 1.3470.
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