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Thursday, August 27, 2009

EUR/USD - Wave iii seems to subdivide nicely

(Click on the picture to enlarge)

Minor wave iii seems to subdivide nicely and the ongoing (pink) wave (ii) should find resistance in the 142.71 - 142.76 area, from where the next powerfull (pink) wave (iii) should start. Target for (pink) wave (iii) will most likely be near the 140.68 area.

If my count is right we might see a short period where the US-dollar gets stronger at the same time stock indicies heads higher towards the final targets. DJI = 9,667 and S&P 500 = 1,048.
Be carefull with stocks they could hit the ceiling any time now, but more high above DJI 9,619.70 and S&P 500 1,037.73 would be prefered.

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