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Thursday, September 3, 2009

EUR/USD - Is back testing previous support line

(Click at the picture to enlarge)

EUR/USD is currently back testing the previous support line, which is now acting as resistance. If my count is correct we should be close to finish minor wave ii of (iii). The next move down should be quite violent and should break well below 140.45 problably closer to 139,85. A break below 142.50 would add credibility to my count.

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