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Thursday, December 16, 2010

EUR/USD - Was the rally to 134.94 wave 4?

The picture hasn't become any cleare since yesterday. As long as 131.63 isn't broken to the downside my call for wave c higher towards 134.94 and possibly higher can't be exclude, but if 131.63 is broken then odds will favor Infinitus ( http://singulorum001.blogspot.com/2010/12/depending-on-how-high-this-developing-y.html ) preferred wave 4 count and the rise from 129.64 to 134.94 should be counted as a A-B-C zig-zag rally.

If this is wave 4, then wave 3 is just a little longer than wave 1, which then favor that wave 5 will be extended, calling for wave 5 down to at least 125.89.

Stay flexible.

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