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Tuesday, May 31, 2011

EUR/USD - Breaking important resistance

The correction yesterday was very small indicating either underlying strength or that red wave i isn't over yet. The impulsive character is improving, but we still need a hurdle or two to overcome to be absolutly sure that wave iv completede at 139.68. The next important hurdle will be a break above resistance at 144.23.

The rally from 139.68 best counts as an Leading diagonal as red wave i, but the very small correction yesterday does cause for suspicion, that we are already in red wave iii.




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