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Thursday, June 16, 2011

EUR/USD - The bullish count is dead

The possible bullish count finally died yesterday with the break below 142.99. The break below 142.99 also told us, that the rally from 139.68 to 146.96 was wave C of an Expanded Flat Correction, that said we should now look for a decline to 138.99 as the first minor target, but the bigger picture calls for a continuation towards at least 128.71 and more likely 125.84 longer term as wave [E] develops.



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