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This week we have ECB and next week FED rate decision so we can expect volatility all around. In today’s news calendar we have German ZEW and US home sales.
On the intraday chart of EURUSD, we see the pair in a corrective pullback that is reaching already a possible resistance level at 1.13466. We see this move as a three wave pullback A, B and C with lower levels in view. Break beneath 1.13033 would be the first sign of more weakness.


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USDCHF is in trading to the upside, while EURUSD to the downside. Like EURUSD, USDCHF is trading in a corrective pullback, after recently completing an impulsive wave from intraday lows. We labeled this corrective retracement as a double zig-zag, that could be near completion, as the price is trading near some important fibonacci ratios( 38.2, 50.0, 61.8) that can react as a turning point into higher levels.

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