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Scandex Market Update – May 27

Scandinavian Capital Markets

USDOLLAR found resistance at the cited level (recovery high was 12536) and broke down today. Individual USD crosses nailed their supports as well (see levels noted below from last week). My wave count interpretation is that weakness from the 5/18 high is either a 3rd or C wave so downside potential is significant in the coming weeks and months. Near term levels to pay attention to are 12415 and 12347 for supports and 12466/79 for resistance.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/27/market-update-may-27/
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