Once the 0.9849 top was established in 2008, the market exploded lower in a red wave A), and the first leg of a corrective wave (B) pattern. The red wave A) found its lows at 0.6008, from where we saw a corrective wave, counted as a double zig-zag that could already be completed around 0.9400.

Any break through the 0.8577 support will put a Short wave C) in play, if 0.9327 resistance holds.

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