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Tuesday, December 29, 2009

EUR/USD - Wave b of black circle wave 2 became a triangle



Wave b of black circle wave 2 became a triangle, but I expect wave c to be under way and should ideally hit the upper right corner of the green rectangle on decemer 31.

The ideal target will be 145.52 or just above this area closer to 145.71.

The same structure can be observed in the USD-Index, but a break below 77.37 is still needed to chance the count from my most bullish count, which calls for a rally soon.

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