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Analysis of EUR/USD and GBP/USD for January 20. Inflation in the eurozone does not allow the euro to “breathe”

On January 17, the EUR/USD pair lost about 45 basis points and thus continues to build a new downward wave, which is identified in the current complex wave markup as Y. The current set of waves is likely to consist of 3 down waves. Recently, the euro-dollar instrument has been moving mainly in three-wave structures. If this is true, then the decline in quotes will continue with targets located near 61.8% and 76.4% of Fibonacci.
by Jeff Wecker
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Analysis of EUR/USD and GBP/USD for January 16. Eurozone’s economic reports continue to disappoint

On January 15, the EUR / USD pair gained about 20 basis points and continued to move away from previously reached lows after an unsuccessful attempt to break through the 50.0% Fibonacci level. At the same time, the alleged wave y still does not seem to be fully equipped. If this is true, then the decrease in quotes will resume with targets located near the 10th figure since I do not see any prerequisites for the resumption of the upward trend section.
by Jeff Wecker