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Friday, September 24, 2010

EUR/USD - More upside to come in wave C

The break above 133.33 have demanded a change in my count. We are now in wave C of a A-B-C zig zag. If wave C becomes 61.8% of wave A, then we should see a top near the 135.00-135.20 area, if however wave C becomes equal to wave A then we should see a move higher to just above 140.00.

The reason why wave C could end closer to the 135 - 135.20 area is, that there only is 5% USD-bulls, such a low number does indicate, that a top might be close at hand.

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