By Admiral Markets
The US Dollar seems to have completed 3 bearish waves within a larger bullish correction. One more higher high could occur on the USD after which divergence between the tops will most likely appear.
This in turn could create a bearish reversal and send the EUR/USD back up. For the moment, however, EUR/USD and GBP/USD look bearish and could show a bearish breakout if price breaks below support.
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Article by Admiral Markets
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.