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Friday, November 5, 2010

EUR/USD - Close to important support

The wave iv correction is becoming deeper than i expected and we are now approching improtant support near the 141.40 area. If that support is broken too, then the bullish count (se the chart above) begins to look suspect and odds instead begins to favor the Expanding Ending Diagonal (see the chart below).

Let's see which is the correct one.


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