The waves since the bottom of wave 3 has been somewhat wird looking, but the explanation for that might be, that a triangle could be building. If thats the case, then we should see wave E of the triangle rise towards the 123.20, before we will see the final thrust out of the triangle to the downside. This thrust should ideally decline to the 119.32-120.18 area.Thursday, May 27, 2010
EUR/USD - A triangle might be building
The waves since the bottom of wave 3 has been somewhat wird looking, but the explanation for that might be, that a triangle could be building. If thats the case, then we should see wave E of the triangle rise towards the 123.20, before we will see the final thrust out of the triangle to the downside. This thrust should ideally decline to the 119.32-120.18 area.
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