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Tuesday, June 7, 2011

EUR/USD - On track

Wave v is still on track. The micro count is shaping up nicely and we should see green wave v and red wave (iii) end near the 147.50 area, setteing the stages for a red wave (iv) correction towards 146.44 and maybe even to the 145.55 - 145.80 area before the next rally higher towards 148.48 area ending red wave (v) and red wave iii.

The MACD indicator has confirmed the bullish rally, so stay focused on the upside for now.

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