The breach of 1.4650 heralds the start of at least a more complex correction and possibly the start of a new downtrend. However, Strong Counter Trend moves usually last 3 days and we are now in the third day with a test of up channel support and the 1.4280 pivot point. While we cannot rule out a spike to test but hold fourth of a lessor degree of 1.4155, expect a normal 50 to 61.8 percent 1.4600-1.4680 pullback. (Ref: 5702)
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