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Wednesday, October 27, 2010

EUR/USD - Wave C down is progressing nicely

Wave ii of 3 ended in the lower end of the expected area, and we are now tracing out wave iii of 3, this wave should ideally extend and fall towards 136.18.

At this point only a break above 138.77 would be of concern, as it increase the odds for a triangle evolving.

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