The rally from 1.6854 is not yet convincing, but if support at 1.6897 is able to protect the downside for a new rally above minor resistance at 1.7023 the correction in wave ii should be complete and wave iii developing for a rally to and above resistance at 1.7479 on the way higher to 1.7777.
A break below 1.6897 will risk a new decline to 1.6853 and maybe even closer to 1.6830 before wave ii is complete.
We are long EUR from 1.6977 with our stop placed at 1.6845.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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