Here is an hourly chart of the EUR/USD pair. Presently, there are numerous competing counts so I have not labeled this chart, however for the count I think is most probable click here http://www.dailyfx.com/technical_analysis/elliott_wave/. As you can see in the above chart, the Euro has been falling within a clearly defined channel. I expect price to rebound towards the top of the channel from where I will be looking to short.
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