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    EUR/USD: wave analysis on 05.01.2016

    A downward correction continues.

    A local correction as the second wave ii of 3 continues forming, which is currently taking the shape of a zigzag (a)(b)(c). Locally, the final wave (c) of 2 seems to be forming, within which a fall in the pair towards 1.0730 is expected. Critical for this scenario is the level of 1.0942. 

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