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Tuesday, May 3, 2011

EUR/USD - One more first wave...

Yesterday we saw a minor break above 148.81 to 149.02, which the following price-action labels as another first wave up. If this micro-count is correct than we are currently tracing out pink wave ii setting the stages for a series of powerfull wave threes up.

Short term support is now found at 147.13 and in the 146.30 - 146.50 area. Under no circumstance must 144.92 be broken, as that would break the bottom of wave i pink, which is absolutly not allowed and would force a re-count.

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