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Elliott Wave Analysis: EURUSD And Crude Oil Update

EURUSD is still trading in a three-wave decline; with wave c) leading the way. Downside can be limited near the Fibonacci projection zone of 100.0, from where a new bounce higher can come in play.

EURUSD, 1H

Crude oil is displaying a nice rally away from 54.95 level, which could indicate more upside. We labeled blue waves one and two as finished and current intra-day recovery can be wave three in action. We may see high at 58.10 broken in sessions ahead.

Crude oil, 1H

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