Expect lower prices toward 0.8474 to complete wave ( a ) before we get a corrective pull back and lower again. We don’t like buying the pair into proposed wave ( b ) pullback.

Key short-term pivot has now moved lower to 3.22, the wave ((x)) terminus. Expect resistance between 3.12 – 3.14 to cap for continuation lower.

Index has turned lower after completing wave B. A new low will complete a 5 wave decline from wave B high and add more conviction to this view. We should then see a (( b )) wave pullback toward 8100 – 8120 and lower again.

6.12.2013 $EURUSD  The pair can trade as high as 1.3485 area in the diagonal to complete (B).There is a possibility the top is in. [jwplayer mediaid=”91248″]eurusd 612