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Saturday, April 2, 2011

EUR/USD - A typical wave iv

This wave iv is a typical wave iv. It's very complex, we really can't figure out what coming next. Are we in some kind of triangle or is wave iv already over and wave v has begun. we simply don't know yet, but what we know is where wave iv can't go and that's below 139.83. Being able to hold above that support has kept the wave iv count well and alive no matter how complex it has been or is going to be. I'm still looking for wave v to break above 142.49 and 142.81 to end the entire rally from 128.71. So stay with the wave iv count as long as support at 139.83 doesn't give away and be tricked into the top-picking affair just yet...

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