EURUSD confluence

FX:EURUSD   Euro / U.S. Dollar
R1 level and previous resistance confluence at 1.114. First target 1.047 - previous bottom, could create first wave after correction and continue either to fall till 1.005(fibo ret and s1) or bounce of it till 1.072 and then fall to second target 1.005. Wait for price action to confirm this move for lower risk.
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