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Scandex Market Update – July 7

Scandinavian Capital Markets

The EURUSD drop from 6/10 to 6/19 retraced exactly 38.2% of the rally from 5/7. 4th waves often retrace 38.2% of 3rd waves. The implication is that EURUSD is headed higher in a 5th wave. A possible target is where wave 5 would equal wave 1 at 1.1460.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/07/07/market-update-july-7/
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