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Tuesday, November 9, 2010

EUR/USD - Wave A of 2 is done


Wave A of 2 is done at 139.55. The important information we can take with us from the structure of wave A is, that it's impulsive (five waves up). That means we will see a three wave correction (most likely down to the 138.73-138.88 area) before wave C up is kicking in for a move up to at least the 140.20 - 140.30 area, but it could extend higher towards the 141 area.

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