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EUR/USD: Pair Could Reach 1.2750

Sameer Kapoor 1 July 2013

EUR/USD: Pair Could Reach 1.2750 EUR/USD made three legs up from 1.2750 low to 1.3420 which we believe represents a corrective, contra-trend price action within a larger downtrend. We are talking about blue wave (2) which is showing signs of completion around 1.3420 level after sharp decline in the last two weeks which is impulsive move. As such, we expect further weakness in coming days and weeks, ideally back to April low as a first projected target zone on the way down.