Wave iii ended at 142.49 yesterday and wave iv is in motion. We have just seen the first part of wave iv as a simple zig-zag, which was just as expected. We should now see an "x" wave towards 142.10-142.20 before the next decline towards the 140.80 - 141 area. When this correction is done we should see one last rally making a new top above 142.49.Wednesday, March 23, 2011
EUR/USD - Correcting in wave iv
Wave iii ended at 142.49 yesterday and wave iv is in motion. We have just seen the first part of wave iv as a simple zig-zag, which was just as expected. We should now see an "x" wave towards 142.10-142.20 before the next decline towards the 140.80 - 141 area. When this correction is done we should see one last rally making a new top above 142.49.
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