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Friday, October 29, 2010

EUR/USD - Wave 3 down underway

I'm still looking for wave 3 down in wave C of the ongoing flat correction. With that said that count will only hold if we soon see acceleration to the downside and a break below 137.32. If we don't see a break below 137.32 the possible triangle count becomes the prominent count. If this is the correcte count we are now in wave C, which normally is the most complex wave.

For now my preferred count is, that we are in wave 3 down of wave C.

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